Bar Harbor Wealth Management Has $34.62 Million Position in Costco Wholesale Corporation $COST

Bar Harbor Wealth Management trimmed its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 34,969 shares of the retailer’s stock after selling 485 shares during the period. Costco Wholesale accounts for approximately 2.2% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 7th biggest position. Bar Harbor Wealth Management’s holdings in Costco Wholesale were worth $34,617,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COST. Nuveen LLC bought a new position in shares of Costco Wholesale in the 1st quarter valued at $3,461,159,000. Kingstone Capital Partners Texas LLC lifted its stake in shares of Costco Wholesale by 418,980.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock valued at $2,335,686,000 after acquiring an additional 2,358,859 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after acquiring an additional 443,101 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock valued at $768,114,000 after acquiring an additional 370,806 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Costco Wholesale by 2,369.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer’s stock valued at $320,036,000 after acquiring an additional 310,197 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COST has been the subject of several analyst reports. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday. Argus raised their target price on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Morgan Stanley lowered their target price on 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. Finally, Wolfe Research initiated coverage on Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,067.19.

Costco Wholesale Stock Performance

COST stock opened at $914.80 on Thursday. The stock has a 50-day moving average price of $952.43 and a 200-day moving average price of $971.37. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $405.69 billion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same period last year, the company posted $5.15 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Insider Activity

In other news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock worth $7,588,685 in the last three months. Company insiders own 0.18% of the company’s stock.

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.