1ST Source Bank Has $10.80 Million Position in Costco Wholesale Co. (NASDAQ:COST)

1ST Source Bank lessened its position in Costco Wholesale Co. (NASDAQ:COST) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,184 shares of the retailer’s stock after selling 20 shares during the quarter. Costco Wholesale makes up about 0.6% of 1ST Source Bank’s portfolio, making the stock its 24th biggest position. 1ST Source Bank’s holdings in Costco Wholesale were worth $10,801,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of COST. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. grew its stake in shares of Costco Wholesale by 557.1% in the second 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. Summit Securities Group LLC acquired a new position in Costco Wholesale during the second quarter worth $50,000. Fairway Wealth LLC raised its position in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Costco Wholesale in the third quarter valued at $58,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COST. Melius Research began coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Barclays raised their price objective on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday. Evercore ISI boosted their target price on Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, TD Cowen raised their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $981.86.

Costco Wholesale Price Performance

Shares of COST stock traded up $6.18 during trading hours on Friday, reaching $994.57. The company’s stock had a trading volume of 1,322,442 shares, compared to its average volume of 1,921,905. Costco Wholesale Co. has a fifty-two week low of $630.30 and a fifty-two week high of $1,007.80. The firm’s 50 day simple moving average is $924.72 and its 200-day simple moving average is $883.45. 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 company has a market capitalization of $440.66 billion, a price-to-earnings ratio of 60.63, a PEG ratio of 6.05 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the firm posted $4.86 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts forecast that Costco Wholesale Co. will post 17.77 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insider Activity

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

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.