WASHINGTON TRUST Co Sells 662 Shares of Costco Wholesale Co. (NASDAQ:COST)

WASHINGTON TRUST Co decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 30,929 shares of the retailer’s stock after selling 662 shares during the period. Costco Wholesale comprises about 1.0% of WASHINGTON TRUST Co’s holdings, making the stock its 22nd largest holding. WASHINGTON TRUST Co’s holdings in Costco Wholesale were worth $27,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COST. Edge Financial Advisors LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter valued at $362,000. Golden State Equity Partners lifted its position in Costco Wholesale by 2.6% during the 3rd quarter. Golden State Equity Partners now owns 3,262 shares of the retailer’s stock valued at $2,892,000 after acquiring an additional 84 shares during the period. Highline Wealth Partners LLC bought a new stake in Costco Wholesale during the third quarter worth about $6,775,000. Creekmur Asset Management LLC grew its holdings in Costco Wholesale by 9.3% in the third quarter. Creekmur Asset Management LLC now owns 1,838 shares of the retailer’s stock worth $1,630,000 after purchasing an additional 157 shares during the period. Finally, Trajan Wealth LLC grew its holdings in Costco Wholesale by 10.2% in the third quarter. Trajan Wealth LLC now owns 35,319 shares of the retailer’s stock worth $31,311,000 after purchasing an additional 3,276 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on COST shares. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research report on Thursday, August 8th. BMO Capital Markets reissued an “outperform” rating and issued a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Roth Mkm raised their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

Costco Wholesale Stock Performance

COST stock opened at $879.09 on Thursday. Costco Wholesale Co. has a twelve month low of $549.06 and a twelve month high of $923.83. The firm has a market cap of $389.50 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 5.48 and a beta of 0.80. The business’s fifty day simple moving average is $892.30 and its two-hundred day simple moving average is $842.70. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $4.86 EPS. Analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 28.00%.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last quarter. 0.18% of the stock is owned by corporate 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.