Costco Wholesale Co. (NASDAQ:COST) is FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s 5th Largest Position

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.5% during the 3rd quarter, Holdings Channel reports. The firm owned 14,745 shares of the retailer’s stock after selling 534 shares during the period. Costco Wholesale makes up about 3.2% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 5th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Costco Wholesale were worth $13,072,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Strong Tower Advisory Services increased its position in Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after buying an additional 137 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after acquiring an additional 932 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after acquiring an additional 2,620 shares during the last quarter. Main Street Financial Solutions LLC lifted its holdings in Costco Wholesale by 22.8% during the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after purchasing an additional 656 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its holdings in Costco Wholesale by 30.8% during the second quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. 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. Roth Mkm increased their price objective on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $886.74.

Insiders Place Their Bets

In other news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the company’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 sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,674 shares of company stock worth $5,831,324. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Trading Down 0.5 %

NASDAQ:COST opened at $889.03 on Friday. The firm has a market capitalization of $394.14 billion, a P/E ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. 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 fifty day moving average of $882.80 and a 200 day moving average of $826.67.

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 company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period in the prior year, the business posted $4.86 earnings per share. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts predict that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

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.