Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,226 shares of the retailer’s stock after selling 489 shares during the quarter. Costco Wholesale comprises 2.5% of Mechanics Bank Trust Department’s holdings, making the stock its 6th largest holding. Mechanics Bank Trust Department’s holdings in Costco Wholesale were worth $17,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the first quarter worth approximately $32,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Costco Wholesale in the 4th quarter valued at $30,000. Finally, Vima LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $34,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,350 shares of company stock worth $2,837,131. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $875.00 price objective (up from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Robert W. Baird raised their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Barclays upped their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $821.62.

Costco Wholesale Price Performance

NASDAQ:COST traded up $15.50 during mid-day trading on Friday, hitting $854.93. 1,710,588 shares of the stock traded hands, compared to its average volume of 2,297,663. The business’s 50-day moving average price is $844.97 and its 200 day moving average price is $776.95. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market cap of $379.02 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 5.49 and a beta of 0.78. Costco Wholesale Co. has a 12-month low of $530.56 and a 12-month high of $896.67.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter last year, the business posted $3.43 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Co. will post 15.97 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

About Costco Wholesale

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.