Essex Savings Bank Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Essex Savings Bank lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 858 shares of the retailer’s stock after buying an additional 52 shares during the quarter. Essex Savings Bank’s holdings in Costco Wholesale were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Obermeyer Wood Investment Counsel Lllp grew its position in shares of Costco Wholesale by 1.8% during the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,786 shares of the retailer’s stock worth $542,000 after purchasing an additional 32 shares in the last quarter. Pioneer Trust Bank N A OR raised its position in shares of Costco Wholesale by 2.6% during the second quarter. Pioneer Trust Bank N A OR now owns 1,274 shares of the retailer’s stock valued at $386,000 after buying an additional 32 shares during the last quarter. Tranquility Partners LLC raised its position in shares of Costco Wholesale by 0.6% during the second quarter. Tranquility Partners LLC now owns 5,423 shares of the retailer’s stock valued at $1,644,000 after buying an additional 32 shares during the last quarter. Windsor Group LTD lifted its holdings in shares of Costco Wholesale by 1.6% in the second quarter. Windsor Group LTD now owns 2,161 shares of the retailer’s stock worth $655,000 after buying an additional 33 shares in the last quarter. Finally, Peterson Wealth Advisors LLC boosted its position in shares of Costco Wholesale by 2.5% during the second quarter. Peterson Wealth Advisors LLC now owns 1,345 shares of the retailer’s stock worth $408,000 after acquiring an additional 33 shares during the last quarter. 68.79% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on COST. Credit Suisse Group reiterated a “hold” rating on shares of Costco Wholesale in a research note on Thursday, June 4th. Stifel Nicolaus reissued a “buy” rating and set a $330.00 price target on shares of Costco Wholesale in a research note on Thursday, June 4th. Wells Fargo & Co restated a “hold” rating on shares of Costco Wholesale in a report on Friday, July 24th. Robert W. Baird reaffirmed a “buy” rating and set a $335.00 price objective on shares of Costco Wholesale in a report on Thursday, April 9th. Finally, Telsey Advisory Group reissued a “buy” rating and issued a $330.00 target price on shares of Costco Wholesale in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $326.46.

NASDAQ:COST traded up $0.71 during midday trading on Friday, hitting $325.53. The stock had a trading volume of 2,150,823 shares, compared to its average volume of 1,971,796. The stock has a 50-day moving average of $312.74 and a 200 day moving average of $306.86. The company has a market capitalization of $143.73 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 4.57 and a beta of 0.68. Costco Wholesale Co. has a one year low of $262.71 and a one year high of $331.49. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.59.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.03). The firm had revenue of $36.45 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. Costco Wholesale’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 8.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, July 30th. Costco Wholesale’s payout ratio is 34.19%.

In other news, Director Susan L. Decker sold 2,000 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $326.60, for a total transaction of $653,200.00. Following the transaction, the director now directly owns 27,747 shares in the company, valued at $9,062,170.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $326.00, for a total transaction of $1,630,000.00. Following the transaction, the vice president now directly owns 32,771 shares in the company, valued at $10,683,346. The disclosure for this sale can be found here. Insiders have sold a total of 30,380 shares of company stock worth $9,514,249 in the last three months. Insiders own 0.22% of the company’s stock.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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