Renasant Bank Has $630,000 Stake in Costco Wholesale Corporation $COST

Renasant Bank lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 37.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 636 shares of the retailer’s stock after selling 379 shares during the period. Renasant Bank’s holdings in Costco Wholesale were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COST. Geode Capital Management LLC raised its holdings in shares of Costco Wholesale by 1.5% during the second quarter. Geode Capital Management LLC now owns 10,275,056 shares of the retailer’s stock valued at $10,124,263,000 after purchasing an additional 150,844 shares during the period. Maple Capital Management Inc. grew its stake in shares of Costco Wholesale by 2.8% in the 2nd quarter. Maple Capital Management Inc. now owns 63,930 shares of the retailer’s stock valued at $63,287,000 after buying an additional 1,759 shares during the period. ABC Arbitrage SA bought a new stake in Costco Wholesale in the 2nd quarter valued at about $639,000. PNC Financial Services Group Inc. raised its stake in Costco Wholesale by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 582,158 shares of the retailer’s stock worth $576,302,000 after buying an additional 1,868 shares during the period. Finally, Comprehensive Financial Planning Inc. PA boosted its holdings in Costco Wholesale by 1.9% in the second quarter. Comprehensive Financial Planning Inc. PA now owns 2,286 shares of the retailer’s stock worth $2,263,000 after acquiring an additional 43 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This trade represents a 28.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,920 shares of company stock worth $7,373,175 over the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Down 0.2%

COST opened at $913.86 on Wednesday. The company’s 50-day moving average price is $937.07 and its two-hundred day moving average price is $967.78. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a twelve month low of $871.71 and a twelve month high of $1,078.23. The stock has a market cap of $405.00 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 5.54 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 EPS for the quarter, beating 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 business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the prior year, the business earned $5.15 earnings per share. Costco Wholesale’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI decreased their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Morgan Stanley decreased their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Daiwa Capital Markets dropped their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Finally, Wolfe Research began coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,063.88.

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.