Bar Harbor Wealth Management Has $31.52 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Bar Harbor Wealth Management decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.8% in the second quarter, HoldingsChannel reports. The fund owned 37,081 shares of the retailer’s stock after selling 669 shares during the quarter. Costco Wholesale makes up about 2.1% of Bar Harbor Wealth Management’s portfolio, making the stock its 8th largest holding. Bar Harbor Wealth Management’s holdings in Costco Wholesale were worth $31,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Tennessee Valley Asset Management Partners purchased a new stake in Costco Wholesale in the 4th quarter worth $207,000. Keel Point LLC lifted its position in shares of Costco Wholesale by 1.4% in the 4th quarter. Keel Point LLC now owns 1,281 shares of the retailer’s stock worth $845,000 after purchasing an additional 18 shares during the period. Prosperitas Financial LLC lifted its position in Costco Wholesale by 10.8% during the fourth quarter. Prosperitas Financial LLC now owns 2,638 shares of the retailer’s stock valued at $1,742,000 after acquiring an additional 258 shares during the last quarter. Imprint Wealth LLC raised its holdings in shares of Costco Wholesale by 9.4% in the fourth quarter. Imprint Wealth LLC now owns 580 shares of the retailer’s stock worth $397,000 after buying an additional 50 shares during the last quarter. Finally, United Asset Strategies Inc. raised its holdings in shares of Costco Wholesale by 15.1% during the fourth quarter. United Asset Strategies Inc. now owns 2,079 shares of the retailer’s stock worth $1,372,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction 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 in the company, valued at $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,970 shares of company stock worth $4,249,526. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Roth Mkm restated a “neutral” rating and set a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Tigress Financial boosted their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Citigroup upped their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $824.50.

Costco Wholesale Price Performance

COST stock traded down $2.92 during trading on Friday, hitting $874.43. The company had a trading volume of 635,958 shares, compared to its average volume of 1,981,949. Costco Wholesale Co. has a fifty-two week low of $530.56 and a fifty-two week high of $896.67. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $387.67 billion, a price-to-earnings ratio of 53.94, a P/E/G ratio of 5.73 and a beta of 0.78. The business has a 50 day moving average of $847.94 and a 200 day moving average of $780.75.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.43 EPS. As a group, research analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is presently 28.75%.

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.