NBT Bank N A NY Sells 357 Shares of Costco Wholesale Corporation $COST

Key Points

• NBT Bank N A NY reduced its stake in Costco Wholesale Corporation by 2.3%, selling 357 shares and bringing its total to 15,055 shares, valued at approximately $14.9 million.
• Costco reported a quarterly EPS of $5.87, exceeding the consensus estimate of $5.81, with revenue of $86.16 billion, reflecting a year-over-year growth of 8.1%.
• Several analysts have updated their price targets for Costco, with Oppenheimer setting a new target of $1,130.00 while Citigroup lowered theirs to $990.00, amidst a consensus rating of "Moderate Buy".

NBT Bank N A NY cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,055 shares of the retailer's stock after selling 357 shares during the period. Costco Wholesale comprises approximately 1.0% of NBT Bank N A NY's portfolio, making the stock its 21st biggest holding. NBT Bank N A NY's holdings in Costco Wholesale were worth $14,904,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp bought a new position in Costco Wholesale during the second quarter valued at $25,000. Anderson Financial Strategies LLC grew its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. bought a new position in Costco Wholesale during the first quarter valued at $48,000. Aspect Partners LLC grew its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the period. Finally, Ransom Advisory Ltd bought a new position in Costco Wholesale during the first quarter valued at $61,000. 68.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was 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 in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated 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 owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,981 shares of company stock worth $7,588,685. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on COST shares. Oppenheimer reissued an "outperform" rating and set a $1,130.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Evercore ISI dropped their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research report on Friday, September 26th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 24th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup dropped their target price on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average target price of $1,067.19.

Costco Wholesale Trading Up 0.4%

Shares of COST stock opened at $914.80 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The company has a market capitalization of $405.70 billion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 5.52 and a beta of 0.98. The business's fifty day moving average is $952.69 and its 200 day moving average is $971.76.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter last year, the business posted $5.15 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 28.56%.

About Costco Wholesale

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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.