Costco Wholesale Co. (NASDAQ:COST) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 560,010 shares of the retailer’s stock after acquiring an additional 1,126 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Costco Wholesale were worth $496,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Costco Wholesale in the third quarter worth $50,319,000. Banque Cantonale Vaudoise increased its position in shares of Costco Wholesale by 43.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 6,907 shares of the retailer’s stock valued at $6,122,000 after acquiring an additional 2,077 shares during the period. SouthState Corp raised its stake in Costco Wholesale by 2.0% in the 3rd quarter. SouthState Corp now owns 24,857 shares of the retailer’s stock worth $22,036,000 after acquiring an additional 496 shares during the last quarter. FWG Holdings LLC lifted its position in Costco Wholesale by 10.6% during the 3rd quarter. FWG Holdings LLC now owns 408 shares of the retailer’s stock worth $363,000 after acquiring an additional 39 shares during the period. Finally, First City Capital Management Inc. grew its stake in Costco Wholesale by 25.2% during the 3rd quarter. First City Capital Management Inc. now owns 963 shares of the retailer’s stock valued at $854,000 after purchasing an additional 194 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. DA Davidson restated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Oppenheimer raised their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $908.81.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock valued at $9,826,115 in the last three months. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Up 1.4 %

COST stock opened at $919.51 on Tuesday. The stock has a market capitalization of $407.41 billion, a P/E ratio of 55.49, a P/E/G ratio of 5.60 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $577.34 and a 52 week high of $962.00. The firm has a 50-day simple moving average of $898.08 and a 200-day simple moving average of $860.94. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.86 EPS. Equities analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

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.