Mechanics Bank Trust Department Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Mechanics Bank Trust Department lowered its position in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,715 shares of the retailer’s stock after selling 585 shares during the quarter. Costco Wholesale comprises approximately 2.2% of Mechanics Bank Trust Department’s portfolio, making the stock its 7th largest holding. Mechanics Bank Trust Department’s holdings in Costco Wholesale were worth $15,176,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COST. B. Riley Wealth Advisors Inc. increased its stake in Costco Wholesale by 1.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after acquiring an additional 273 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in Costco Wholesale by 4.7% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 79 shares during the last quarter. Cerity Partners LLC increased its stake in Costco Wholesale by 28.9% in the fourth quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after acquiring an additional 61,122 shares during the last quarter. Metis Global Partners LLC increased its stake in Costco Wholesale by 15.6% in the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after acquiring an additional 2,909 shares during the last quarter. Finally, Rappaport Reiches Capital Management LLC boosted its position in Costco Wholesale by 23.5% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock valued at $538,000 after buying an additional 155 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. DA Davidson restated a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price target for the company. in a research report on Wednesday, April 3rd. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Argus upped their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $752.96.

Check Out Our Latest Report on COST

Costco Wholesale Stock Up 0.3 %

Shares of NASDAQ COST traded up $2.50 on Tuesday, reaching $850.66. 668,103 shares of the company’s stock traded hands, compared to its average volume of 1,971,824. Costco Wholesale Co. has a 12 month low of $521.26 and a 12 month high of $873.96. The business’s 50 day simple moving average is $790.73 and its two-hundred day simple moving average is $734.25. The company has a market cap of $377.12 billion, a price-to-earnings ratio of 52.76, a price-to-earnings-growth ratio of 5.61 and a beta of 0.79. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.43 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Costco Wholesale Company Profile

(Free Report)

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.

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

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