Raymond James Trust N.A. Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Raymond James Trust N.A. increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,959 shares of the retailer’s stock after purchasing an additional 901 shares during the period. Raymond James Trust N.A.’s holdings in Costco Wholesale were worth $21,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Connections Group Inc. lifted its position in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new stake in Costco Wholesale in the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. grew its stake in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale during the second quarter valued at approximately $50,000. Finally, Fairway Wealth LLC increased its position in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $958.25 on Friday. The firm’s 50 day moving average price is $900.22 and its 200-day moving average price is $863.38. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $424.57 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 5.74 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $962.00.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate 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 revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.86 EPS. Equities research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Melius Research assumed coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Oppenheimer lifted their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Barclays increased their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, TD Cowen raised their price objective on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $908.81.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock worth $9,826,115 over the last three months. 0.18% of the stock is currently owned by company insiders.

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.