Field & Main Bank Cuts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Field & Main Bank decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 3.8% in the third quarter, Holdings Channel reports. The institutional investor owned 4,572 shares of the retailer’s stock after selling 183 shares during the period. Costco Wholesale accounts for about 1.4% of Field & Main Bank’s portfolio, making the stock its 17th largest position. Field & Main Bank’s holdings in Costco Wholesale were worth $2,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new stake in shares of Costco Wholesale during the second quarter worth about $31,000. KB Financial Partners LLC purchased a new stake in Costco Wholesale during the 1st quarter valued at about $35,000. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Costco Wholesale during the 2nd quarter valued at about $35,000. Canton Hathaway LLC purchased a new stake in Costco Wholesale during the 3rd quarter valued at about $38,000. Finally, West Financial Advisors LLC grew its stake in Costco Wholesale by 100.0% during the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock valued at $40,000 after acquiring an additional 50 shares in the last quarter. 66.87% of the stock is owned by institutional investors.

COST traded up $4.47 on Thursday, hitting $549.73. 2,315,610 shares of the company traded hands, compared to its average volume of 2,180,508. The company has a 50 day moving average of $481.58 and a 200-day moving average of $438.24. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $242.88 billion, a PE ratio of 48.78, a PEG ratio of 5.08 and a beta of 0.65. Costco Wholesale Co. has a 12-month low of $307.00 and a 12-month high of $550.83.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a return on equity of 29.62% and a net margin of 2.56%. The company had revenue of $61.44 billion for the quarter, compared to analysts’ expectations of $61.45 billion. During the same quarter in the previous year, the firm posted $3.13 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. On average, research analysts anticipate that Costco Wholesale Co. will post 12.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Friday, October 29th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, October 28th. Costco Wholesale’s payout ratio is 28.04%.

Several equities analysts have weighed in on COST shares. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Monday, September 6th. Oppenheimer upped their price objective on shares of Costco Wholesale from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Thursday, November 4th. They noted that the move was a valuation call. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $525.00 to $575.00 in a report on Thursday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $500.00 to $552.00 and gave the stock an “overweight” rating in a report on Thursday, November 4th. Finally, Tigress Financial reiterated a “buy” rating and set a $520.00 target price on shares of Costco Wholesale in a report on Wednesday, September 29th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $496.23.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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

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