CNB Bank Sells 178 Shares of Costco Wholesale Co. (NASDAQ:COST)

CNB Bank trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,894 shares of the retailer’s stock after selling 178 shares during the quarter. Costco Wholesale makes up about 1.2% of CNB Bank’s investment portfolio, making the stock its 17th largest holding. CNB Bank’s holdings in Costco Wholesale were worth $2,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its position in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. raised its position in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $50,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Loop Capital increased their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price target for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company increased their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $890.07.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $889.56 on Monday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company’s 50-day moving average is $889.26 and its 200 day moving average is $833.95. The firm has a market capitalization of $394.37 billion, a P/E ratio of 55.12, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $4.86 EPS. Research analysts forecast that Costco Wholesale Co. will post 17.74 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,224 shares of company stock worth $9,974,973. Insiders own 0.18% of the company’s stock.

Costco Wholesale 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.