Midwest Trust Co Invests $74.71 Million in Costco Wholesale Corporation $COST

Midwest Trust Co bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,473 shares of the retailer’s stock, valued at approximately $74,714,000. Costco Wholesale comprises 1.0% of Midwest Trust Co’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Peterson Wealth Services increased its position in Costco Wholesale by 0.5% during the second quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock worth $13,479,000 after buying an additional 72 shares during the period. Fishman Jay A Ltd. MI grew its position in shares of Costco Wholesale by 3.5% during the second quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after acquiring an additional 575 shares during the last quarter. Independent Solutions Wealth Management LLC increased its holdings in shares of Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after acquiring an additional 53 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $3,095,000. Finally, Rossmore Private Capital raised its position in Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after purchasing an additional 62 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COST has been the topic of several research reports. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Truist Financial dropped their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. JPMorgan Chase & Co. reduced their price objective on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Oppenheimer lowered their target price on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $922.74 on Friday. Costco Wholesale Corporation has a 52 week low of $871.71 and a 52 week high of $1,078.23. The company has a 50-day moving average price of $938.12 and a 200 day moving average price of $968.70. The company has a market cap of $408.94 billion, a P/E ratio of 50.67, a PEG ratio of 5.54 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the business posted $5.15 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the transaction, the insider owned 5,155 shares in the company, valued at $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,920 shares of company stock valued at $7,373,175 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.