Costco Wholesale Co. (NASDAQ:COST) is Mechanics Bank Trust Department’s 10th Largest Position

Mechanics Bank Trust Department lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,141 shares of the retailer’s stock after buying an additional 41 shares during the period. Costco Wholesale comprises 2.0% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 10th biggest holding. Mechanics Bank Trust Department’s holdings in Costco Wholesale were worth $11,091,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. Mystic Asset Management Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $40,000. Lansing Street Advisors acquired a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $41,000. Finally, Cordant Inc. acquired a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $47,000. 66.83% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.2 %

Shares of COST opened at $487.17 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $215.80 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. The stock’s fifty day simple moving average is $529.73 and its 200 day simple moving average is $519.85. Costco Wholesale Co. has a twelve month low of $406.51 and a twelve month high of $612.27.

Costco Wholesale Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.

Insider Buying and Selling

In related news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the completion of the transaction, the director now directly owns 5,197 shares in the company, valued at $2,711,170.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,800 shares of company stock valued at $1,449,904. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COST has been the topic of a number of research reports. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, July 15th. Raymond James increased their target price on Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Truist Financial increased their target price on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Evercore ISI increased their target price on Costco Wholesale to $585.00 in a report on Tuesday, September 6th. Finally, Oppenheimer increased their target price on Costco Wholesale from $535.00 to $600.00 in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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