Costco Wholesale Corporation $COST Position Lessened by Davidson Trust Co.

Davidson Trust Co. decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,339 shares of the retailer’s stock after selling 33 shares during the quarter. Costco Wholesale comprises 2.4% of Davidson Trust Co.’s holdings, making the stock its 6th biggest position. Davidson Trust Co.’s holdings in Costco Wholesale were worth $5,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. JGP Wealth Management LLC lifted its stake in shares of Costco Wholesale by 11.4% during the second quarter. JGP Wealth Management LLC now owns 4,177 shares of the retailer’s stock valued at $4,135,000 after buying an additional 428 shares during the period. Cypress Wealth Services LLC increased its position in Costco Wholesale by 13.5% during the second quarter. Cypress Wealth Services LLC now owns 4,604 shares of the retailer’s stock worth $4,558,000 after purchasing an additional 549 shares during the last quarter. Hamilton Point Investment Advisors LLC acquired a new position in Costco Wholesale during the second quarter worth approximately $208,000. Sagespring Wealth Partners LLC increased its position in Costco Wholesale by 8.2% during the second quarter. Sagespring Wealth Partners LLC now owns 7,672 shares of the retailer’s stock worth $7,595,000 after purchasing an additional 584 shares during the last quarter. Finally, Frazier Financial Advisors LLC increased its position in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Shares of COST stock opened at $946.51 on Wednesday. The company has a market capitalization of $419.47 billion, a PE ratio of 51.98, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. The firm has a fifty day simple moving average of $951.71 and a 200-day simple moving average of $971.87. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on COST. Morgan Stanley dropped their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Mizuho dropped their price objective on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, Truist Financial dropped their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Twenty research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,068.04.

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.