Arvest Bank Trust Division Acquires Shares of 433 Costco Wholesale Co. (NASDAQ:COST)

Arvest Bank Trust Division acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 433 shares of the retailer’s stock, valued at approximately $384,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Costco Wholesale by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after buying an additional 162,191 shares in the last quarter. FMR LLC raised its position in shares of Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the period. International Assets Investment Management LLC lifted its stake in Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Costco Wholesale by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after acquiring an additional 88,550 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after purchasing an additional 125,444 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 0.6 %

Shares of Costco Wholesale stock opened at $988.39 on Friday. Costco Wholesale Co. has a 1 year low of $630.30 and a 1 year high of $1,007.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The company has a market capitalization of $437.93 billion, a P/E ratio of 59.65, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. The business has a 50-day moving average of $924.72 and a two-hundred day moving average of $883.45.

Costco Wholesale (NASDAQ:COST) last announced 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. The firm had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.86 EPS. As a group, equities analysts predict that Costco Wholesale Co. will post 17.77 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the 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 of the company’s stock, valued at $9,091,512.30. This represents a 30.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock worth $9,826,115 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. TD Cowen boosted their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Wells Fargo & Company increased their target price on Costco Wholesale from $850.00 to $950.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $957.07.

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.