1ST Source Bank Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

1ST Source Bank reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,946 shares of the retailer’s stock after selling 238 shares during the period. Costco Wholesale makes up 0.6% of 1ST Source Bank’s investment portfolio, making the stock its 20th largest holding. 1ST Source Bank’s holdings in Costco Wholesale were worth $10,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale during the 3rd quarter worth $29,000. Synergy Investment Management LLC purchased a new position in Costco Wholesale during the 4th quarter worth $31,000. NewSquare Capital LLC grew its position in Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new position in Costco Wholesale during the 4th quarter worth $33,000. Finally, Collier Financial purchased a new position in Costco Wholesale during the 4th quarter worth $35,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the sale, the chief executive officer now directly owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. DA Davidson raised their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Truist Financial raised their target price on shares of Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research note on Friday, March 7th. Sanford C. Bernstein restated an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,030.43.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $903.92 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $989.80 and a two-hundred day moving average price of $944.86. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.24. The company has a market capitalization of $401.25 billion, a P/E ratio of 53.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. As a group, research analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

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.