Baker Boyer National Bank Acquires 28 Shares of Costco Wholesale Co. (NASDAQ:COST)

Baker Boyer National Bank boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.2% in the third quarter, HoldingsChannel reports. The fund owned 2,350 shares of the retailer’s stock after acquiring an additional 28 shares during the period. Costco Wholesale accounts for 0.7% of Baker Boyer National Bank’s portfolio, making the stock its 17th biggest holding. Baker Boyer National Bank’s holdings in Costco Wholesale were worth $2,083,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale during the second quarter valued at $48,000. Ruedi Wealth Management Inc. boosted its holdings in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the second quarter worth $50,000. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock worth $9,974,973 in the last three months. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer lifted their price target on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets reissued an “outperform” rating and set a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Finally, Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $890.07.

Costco Wholesale Stock Performance

Shares of COST opened at $889.56 on Monday. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market cap of $394.37 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 5.48 and a beta of 0.80. The business has a 50-day simple moving average of $889.26 and a two-hundred day simple moving average of $833.95.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 EPS. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Co. will post 17.74 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

About Costco Wholesale

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.