Coastline Trust Co Has $8 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Coastline Trust Co raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.7% in the third quarter, Holdings Channel reports. The firm owned 9,022 shares of the retailer’s stock after acquiring an additional 324 shares during the quarter. Costco Wholesale comprises approximately 0.9% of Coastline Trust Co’s investment portfolio, making the stock its 26th biggest position. Coastline Trust Co’s holdings in Costco Wholesale were worth $7,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. boosted its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co acquired a new stake in Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. boosted its stake in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC bought a new position in Costco Wholesale during the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Costco Wholesale in the third quarter valued at about $58,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $907.07 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a one year low of $572.24 and a one year high of $962.00. The business has a 50-day simple moving average of $897.62 and a 200 day simple moving average of $857.72. The firm has a market capitalization of $401.90 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 5.76 and a beta of 0.80.

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

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 27.05 % 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 valued at $9,826,115 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on COST. Evercore ISI boosted their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer lifted their price target on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Melius Research started coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $905.30.

About Costco Wholesale

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.