Costco Wholesale Corporation $COST Stock Sold by Provident Trust Co.

Provident Trust Co. reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 29.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 332,481 shares of the retailer’s stock after selling 137,919 shares during the period. Costco Wholesale accounts for approximately 9.4% of Provident Trust Co.’s investment portfolio, making the stock its 3rd biggest holding. Provident Trust Co. owned approximately 0.08% of Costco Wholesale worth $302,671,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COST. Traynor Capital Management Inc. boosted its position in shares of Costco Wholesale by 4.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 8,926 shares of the retailer’s stock worth $8,126,000 after purchasing an additional 346 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Costco Wholesale by 1.1% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 492,084 shares of the retailer’s stock valued at $448,973,000 after buying an additional 5,593 shares in the last quarter. Pinkerton Wealth LLC bought a new stake in Costco Wholesale in the 3rd quarter valued at about $208,000. Bell Investment Advisors Inc increased its position in Costco Wholesale by 15.8% in the 3rd quarter. Bell Investment Advisors Inc now owns 624 shares of the retailer’s stock valued at $568,000 after buying an additional 85 shares in the last quarter. Finally, Columbia Bank raised its stake in Costco Wholesale by 14.0% during the 3rd quarter. Columbia Bank now owns 4,952 shares of the retailer’s stock worth $4,508,000 after buying an additional 610 shares during the period. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Roth Capital reiterated a “sell” rating and issued a $781.00 price target on shares of Costco Wholesale in a report on Friday, September 25th. Evercore restated an “outperform” rating on shares of Costco Wholesale in a report on Tuesday, September 22nd. BTIG Research reaffirmed a “buy” rating and set a $1,125.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 23rd. UBS Group reiterated a “buy” rating on shares of Costco Wholesale in a report on Thursday, September 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,086.19.

Costco Wholesale Stock Performance

COST opened at $1,012.28 on Monday. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The firm has a market capitalization of $448.57 billion, a PE ratio of 48.76, a P/E/G ratio of 4.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. The company’s 50-day moving average is $943.31 and its 200 day moving average is $970.25.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. The business had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.87 EPS. As a group, research analysts predict that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, October 30th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the sale, the executive vice president directly owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This represents a 23.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the transaction, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by insiders.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.