Baker Boyer National Bank Has $1.76 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Baker Boyer National Bank lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,406 shares of the retailer’s stock after purchasing an additional 93 shares during the period. Costco Wholesale makes up about 0.6% of Baker Boyer National Bank’s holdings, making the stock its 17th biggest position. Baker Boyer National Bank’s holdings in Costco Wholesale were worth $1,763,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Northwest Investment Counselors LLC raised its position in Costco Wholesale by 2.4% during the first quarter. Northwest Investment Counselors LLC now owns 1,197 shares of the retailer’s stock valued at $877,000 after buying an additional 28 shares during the period. Steph & Co. raised its position in Costco Wholesale by 105.8% during the first quarter. Steph & Co. now owns 107 shares of the retailer’s stock valued at $78,000 after buying an additional 55 shares during the period. Westend Capital Management LLC acquired a new position in Costco Wholesale during the first quarter valued at $243,000. Lbmc Investment Advisors LLC raised its position in Costco Wholesale by 42.9% during the first quarter. Lbmc Investment Advisors LLC now owns 1,631 shares of the retailer’s stock valued at $1,195,000 after buying an additional 490 shares during the period. Finally, True North Advisors LLC increased its position in Costco Wholesale by 2.9% in the 1st quarter. True North Advisors LLC now owns 6,071 shares of the retailer’s stock worth $4,448,000 after purchasing an additional 170 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $1.64 during trading hours on Monday, hitting $849.95. The stock had a trading volume of 665,774 shares, compared to its average volume of 1,974,240. The company has a 50-day moving average of $788.13 and a two-hundred day moving average of $732.58. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market cap of $376.81 billion, a PE ratio of 52.34, a price-to-earnings-growth ratio of 5.70 and a beta of 0.79. Costco Wholesale Co. has a fifty-two week low of $521.26 and a fifty-two week high of $873.96.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.43 EPS. On average, equities research analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a $1.16 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COST. BMO Capital Markets reaffirmed an “outperform” rating and issued a $875.00 target price (up from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Argus upped their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. TD Cowen upped their target price on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Stifel Nicolaus upped their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Truist Financial upped their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $752.96.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.