Commerce Bank Sells 433 Shares of Costco Wholesale Co. (NASDAQ:COST)

20 Nov 2024, 13:13 by Kim Johansen · The Markets Daily

Commerce Bank trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,697 shares of the retailer’s stock after selling 433 shares during the period. Commerce Bank’s holdings in Costco Wholesale were worth $101,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in Costco Wholesale by 99,208.6% in the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after buying an additional 1,473,248 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after buying an additional 620,341 shares during the period. Strategic Financial Concepts LLC grew its stake in Costco Wholesale by 51,747.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after buying an additional 618,383 shares in the last quarter. Finally, Swedbank AB bought a new stake in Costco Wholesale during the 1st quarter valued at $285,618,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,016 shares of company stock valued at $9,826,115. Insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 1.2 %

Shares of COST stock opened at $930.15 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The business has a 50-day moving average of $898.80 and a 200 day moving average of $862.25. The stock has a market capitalization of $412.12 billion, a PE ratio of 56.13, a P/E/G ratio of 5.60 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $577.34 and a 1-year high of $962.00.

Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the business earned $4.86 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on COST. Sanford C. Bernstein began coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective on the stock. Melius Research initiated coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

View Our Latest Stock Report on Costco Wholesale

About Costco Wholesale

(Free Report)