Costco Wholesale Co. (NASDAQ:COST) is Old North State Trust LLC’s 9th Largest Position

Old North State Trust LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,273 shares of the retailer’s stock after acquiring an additional 77 shares during the quarter. Costco Wholesale comprises about 1.7% of Old North State Trust LLC’s portfolio, making the stock its 9th biggest position. Old North State Trust LLC’s holdings in Costco Wholesale were worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale in the first quarter worth about $32,000. Financial Connections Group Inc. grew its stake in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the last quarter. Vima LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $34,000. Finally, Bank & Trust Co acquired a new stake in Costco Wholesale in the 2nd quarter worth approximately $48,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COST. BMO Capital Markets reissued an “outperform” rating and set a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a report on Friday. Telsey Advisory Group raised their price objective on Costco Wholesale from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Roth Mkm increased their price target on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price target on Costco Wholesale from $915.00 to $925.00 and gave the company a “buy” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $881.19.

Costco Wholesale Trading Down 1.8 %

NASDAQ:COST opened at $885.62 on Monday. 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 capitalization of $392.63 billion, a PE ratio of 54.87, a P/E/G ratio of 5.47 and a beta of 0.80. The stock’s 50 day moving average price is $870.67 and its 200 day moving average price is $817.28. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business posted $4.86 earnings per share. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Costco Wholesale Co. will post 16.02 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by insiders.

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.