Ledyard National Bank Acquires 227 Shares of Costco Wholesale Co. (NASDAQ:COST)

Ledyard National Bank lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,158 shares of the retailer’s stock after purchasing an additional 227 shares during the period. Ledyard National Bank’s holdings in Costco Wholesale were worth $1,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Richelieu Gestion SA acquired a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Morton Brown Family Wealth LLC raised its stake in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after buying an additional 30 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $30,000. Steph & Co. raised its stake in shares of Costco Wholesale by 42.3% in the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after purchasing an additional 22 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $49,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 785 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 1,442 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now owns 12,395 shares in the company, valued at approximately $8,967,534.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,727 shares of company stock worth $2,682,948. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock traded down $5.83 on Tuesday, reaching $720.50. The company’s stock had a trading volume of 351,407 shares, compared to its average volume of 2,028,444. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 12-month low of $476.75 and a 12-month high of $787.08. The company has a market capitalization of $319.54 billion, a P/E ratio of 47.19, a PEG ratio of 4.86 and a beta of 0.77. The stock’s 50 day simple moving average is $730.46 and its 200-day simple moving average is $668.62.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The company had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter last year, the business posted $3.30 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale Co. will post 15.84 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Thursday, April 25th. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 30.35%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective for the company. in a research note on Wednesday, April 3rd. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Oppenheimer increased their price objective on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Citigroup increased their price objective on Costco Wholesale from $630.00 to $710.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group upped their target price on Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $694.48.

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.