Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Somerset Trust Co

Somerset Trust Co lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,497 shares of the retailer’s stock after selling 577 shares during the quarter. Costco Wholesale accounts for approximately 1.9% of Somerset Trust Co’s holdings, making the stock its 15th biggest holding. Somerset Trust Co’s holdings in Costco Wholesale were worth $4,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Richelieu Gestion SA bought a new position in shares of Costco Wholesale during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the fourth quarter worth $26,000. Morton Brown Family Wealth LLC boosted its holdings in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Costco Wholesale during the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $34,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Stifel Nicolaus upped their target price on Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays increased their price objective on shares of Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. DA Davidson reissued a “neutral” rating and set a $680.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Citigroup lifted their price target on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $875.00 price objective (up from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $751.85.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.3 %

Shares of NASDAQ:COST opened at $870.75 on Thursday. The stock has a market capitalization of $386.03 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 5.76 and a beta of 0.79. Costco Wholesale Co. has a 1-year low of $516.54 and a 1-year high of $873.96. The company has a 50 day moving average price of $783.19 and a 200 day moving average price of $728.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same period in the previous year, the firm posted $3.43 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Costco Wholesale Co. will post 15.96 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were paid a dividend of $1.16 per share. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.