Costco Wholesale Corporation $COST Stock Position Lowered by Montecito Bank & Trust

Montecito Bank & Trust decreased its position in Costco Wholesale Corporation (NASDAQ:COST) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,374 shares of the retailer’s stock after selling 853 shares during the period. Costco Wholesale comprises about 1.2% of Montecito Bank & Trust’s investment portfolio, making the stock its 22nd biggest holding. Montecito Bank & Trust’s holdings in Costco Wholesale were worth $7,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Costco Wholesale in the second quarter worth $5,692,035,000. Laurel Wealth Advisors LLC grew its holdings in shares of Costco Wholesale by 96,316.6% during the second quarter. Laurel Wealth Advisors LLC now owns 1,378,758 shares of the retailer’s stock valued at $1,364,888,000 after buying an additional 1,377,328 shares in the last quarter. Amundi raised its position in Costco Wholesale by 45.0% during the third quarter. Amundi now owns 3,176,606 shares of the retailer’s stock valued at $2,893,697,000 after buying an additional 986,182 shares during the period. Invesco Ltd. lifted its stake in Costco Wholesale by 9.8% in the 2nd quarter. Invesco Ltd. now owns 4,291,557 shares of the retailer’s stock worth $4,248,384,000 after acquiring an additional 383,887 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Costco Wholesale by 112.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 477,425 shares of the retailer’s stock worth $441,919,000 after acquiring an additional 252,453 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 730 shares of Costco Wholesale stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1,003.02, for a total value of $732,204.60. Following the completion of the sale, the executive vice president owned 6,121 shares of the company’s stock, valued at approximately $6,139,485.42. The trade was a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa A. Jones sold 850 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $986.26, for a total transaction of $838,321.00. Following the completion of the sale, the executive vice president owned 4,228 shares of the company’s stock, valued at $4,169,907.28. This represents a 16.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,645 shares of company stock valued at $7,049,302. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

COST has been the topic of several research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, March 6th. BMO Capital Markets raised their price target on shares of Costco Wholesale from $1,175.00 to $1,315.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Telsey Advisory Group boosted their price objective on shares of Costco Wholesale from $1,100.00 to $1,125.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,050.00 price objective on shares of Costco Wholesale in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,050.00 to $1,060.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,039.13.

Costco Wholesale Stock Down 0.7%

COST opened at $965.73 on Tuesday. The company has a market capitalization of $428.45 billion, a PE ratio of 50.22, a price-to-earnings-growth ratio of 4.80 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.59. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,067.08. The business has a 50-day moving average of $984.72 and a 200-day moving average of $938.56.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 5th. The retailer reported $4.58 EPS for the quarter, beating the consensus estimate of $4.55 by $0.03. Costco Wholesale had a return on equity of 28.57% and a net margin of 2.99%.The business had revenue of $69.60 billion during the quarter, compared to analysts’ expectations of $68.96 billion. During the same quarter in the previous year, the business posted $4.02 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, January 30th. Costco Wholesale’s payout ratio is currently 27.04%.

Costco Wholesale Company 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.