OLD National Bancorp IN Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

OLD National Bancorp IN lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,403 shares of the retailer’s stock after selling 262 shares during the period. OLD National Bancorp IN’s holdings in Costco Wholesale were worth $21,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Steph & Co. lifted its holdings in shares of Costco Wholesale by 105.8% during the 1st quarter. Steph & Co. now owns 107 shares of the retailer’s stock valued at $78,000 after purchasing an additional 55 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in shares of Costco Wholesale by 8.5% during the 1st quarter. Traynor Capital Management Inc. now owns 2,266 shares of the retailer’s stock valued at $1,660,000 after purchasing an additional 177 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at $510,353,000. Harbor Investment Advisory LLC lifted its holdings in shares of Costco Wholesale by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 5,808 shares of the retailer’s stock valued at $4,255,000 after purchasing an additional 50 shares during the last quarter. Finally, Capital Planning LLC lifted its holdings in shares of Costco Wholesale by 13.6% during the 1st quarter. Capital Planning LLC now owns 2,976 shares of the retailer’s stock valued at $2,181,000 after purchasing an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of several analyst reports. Barclays increased their price objective on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. DA Davidson restated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Oppenheimer raised their target price on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $890.07.

Costco Wholesale Stock Up 0.5 %

COST stock opened at $889.56 on Monday. The firm has a market cap of $394.37 billion, a PE ratio of 55.12, a PEG ratio of 5.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm’s 50 day moving average price is $889.26 and its 200-day moving average price is $833.95. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.86 EPS. On average, equities research analysts anticipate that Costco Wholesale Co. will post 17.74 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock worth $9,974,973. Insiders own 0.18% of the company’s stock.

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.