FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 1,187 Shares of Costco Wholesale Corporation $COST

Key Points

• Farmers & Merchants Trust Co of Long Beach increased its holdings in Costco Wholesale Corporation by 8.8%, acquiring an additional 1,187 shares to reach a total of 14,700 shares, valued at approximately $14.55 million.
• Costco reported a quarterly earnings per share of $5.87, surpassing analysts' expectations, with revenue increasing by 8.1% year-over-year to $86.16 billion.
• Institutional investors currently own 68.48% of Costco's stock, indicating strong institutional interest in the company.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,700 shares of the retailer's stock after acquiring an additional 1,187 shares during the quarter. Costco Wholesale comprises 3.1% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's investment portfolio, making the stock its 6th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Costco Wholesale were worth $14,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bulwark Capital Corp purchased a new position in Costco Wholesale during the second quarter worth about $25,000. Anderson Financial Strategies LLC raised its stake in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. purchased a new position in Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC raised its stake in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the period. Finally, Bank & Trust Co raised its stake in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Shares of COST opened at $915.95 on Monday. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The firm's 50 day moving average price is $955.70 and its 200 day moving average price is $971.63. The company has a market cap of $406.21 billion, a P/E ratio of 50.30, a PEG ratio of 5.15 and a beta of 0.97. 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 - Get Free Report) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the firm earned $5.15 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 28.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the company a "neutral" rating in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research note on Friday. Truist Financial reduced their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research note on Friday. Wolfe Research assumed coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,069.58.

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.

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