Associated Banc Corp Decreases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Associated Banc Corp lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,626 shares of the retailer’s stock after selling 82 shares during the period. Associated Banc Corp’s holdings in Costco Wholesale were worth $1,441,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co purchased a new stake in Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. raised its stake in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC grew its stake in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

COST has been the topic of several recent research reports. Melius Research assumed coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Roth Mkm upped their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Oppenheimer lifted their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Evercore ISI increased their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $908.81.

Costco Wholesale Stock Down 0.3 %

NASDAQ:COST opened at $960.89 on Tuesday. The firm has a 50-day simple moving average of $902.24 and a two-hundred day simple moving average of $867.47. The firm has a market cap of $425.75 billion, a P/E ratio of 57.99, a P/E/G ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $582.83 and a fifty-two week high of $976.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

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

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

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.