Midwest Trust Co Buys 1,605 Shares of Costco Wholesale Corporation $COST

Midwest Trust Co lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,268 shares of the retailer’s stock after purchasing an additional 1,605 shares during the period. Costco Wholesale makes up about 0.9% of Midwest Trust Co’s investment portfolio, making the stock its 29th biggest position. Midwest Trust Co’s holdings in Costco Wholesale were worth $77,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Costco Wholesale in the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. bought a new position in Costco Wholesale in the 4th quarter valued at $28,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $28,000. Manning & Napier Advisors LLC increased its stake in shares of Costco Wholesale by 750.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 34 shares of the retailer’s stock valued at $34,000 after buying an additional 30 shares during the period. Finally, Entrust Financial LLC bought a new stake in shares of Costco Wholesale during the fourth quarter worth $31,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein boosted their price objective on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Citigroup began coverage on shares of Costco Wholesale in a research report on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 target price on the stock. Roth Capital raised their target price on shares of Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Twenty-two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,059.53.

Costco Wholesale Stock Performance

Shares of COST stock opened at $971.40 on Tuesday. The stock has a 50-day moving average of $946.98 and a 200-day moving average of $980.99. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50. The stock has a market cap of $430.80 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 4.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The firm had revenue of $70.53 billion for the quarter, compared to analyst estimates of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same quarter in the prior year, the firm posted $4.28 EPS. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, July 24th. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.58%.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of Costco Wholesale stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the transaction, the director directly owned 4,779 shares in the company, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Costco Wholesale Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.