Raymond James Trust N.A. Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Raymond James Trust N.A. grew its position in Costco Wholesale Co. (NASDAQ:COST) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,058 shares of the retailer’s stock after acquiring an additional 811 shares during the quarter. Raymond James Trust N.A.’s holdings in Costco Wholesale were worth $19,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. Frank Rimerman Advisors LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale in the 1st quarter worth about $32,000. Vima LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $34,000. DSM Capital Partners LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $36,000. Finally, Bank & Trust Co purchased a new position in Costco Wholesale in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on COST shares. TD Cowen raised their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a report on Thursday, August 8th. Bank of America raised their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Citigroup raised their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Oppenheimer lowered their price target on shares of Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $824.50.

Insider Activity at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,970 shares of company stock worth $4,249,526. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST traded up $1.65 on Friday, hitting $879.21. 1,305,753 shares of the company’s stock were exchanged, compared to its average volume of 1,967,249. The firm has a 50-day moving average price of $851.23 and a 200-day moving average price of $789.01. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a market cap of $389.78 billion, a price-to-earnings ratio of 54.47, a P/E/G ratio of 5.84 and a beta of 0.78. Costco Wholesale Co. has a fifty-two week low of $530.56 and a fifty-two week high of $896.67.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.43 EPS. As a group, equities analysts anticipate that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

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.