Comerica Bank Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Comerica Bank reduced its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,024 shares of the retailer’s stock after selling 3,687 shares during the period. Costco Wholesale makes up about 0.5% of Comerica Bank’s holdings, making the stock its 29th biggest position. Comerica Bank’s holdings in Costco Wholesale were worth $119,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its position in shares of Costco Wholesale by 8.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 554 shares of the retailer’s stock worth $471,000 after purchasing an additional 42 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Costco Wholesale by 2.5% in the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after buying an additional 88,550 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Costco Wholesale by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 312,946 shares of the retailer’s stock worth $266,001,000 after purchasing another 6,750 shares in the last quarter. MBB Public Markets I LLC boosted its position in shares of Costco Wholesale by 2,504.5% in the second quarter. MBB Public Markets I LLC now owns 31,566 shares of the retailer’s stock worth $26,831,000 after purchasing an additional 30,354 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its position in shares of Costco Wholesale by 31.6% in the second quarter. Daymark Wealth Partners LLC now owns 25,429 shares of the retailer’s stock worth $21,614,000 after buying an additional 6,102 shares during the last quarter. 68.48% of the shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday. Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday. Telsey Advisory Group lifted their price target on Costco Wholesale from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research note on Tuesday. Finally, Melius Research initiated coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $881.19, based on data from MarketBeat.

Get the latest COST report

Insider trading at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the company’s 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 completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of shares are currently owned by company insiders.

Costco Wholesale down 1.8%

NASDAQ COST opened at $885.62 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94, and a quick ratio of 0.45. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The company has a market cap of $392.63 billion, a P/E ratio of 54.87, a P/E/G ratio of 5.57 and a beta of 0.80. The company has a 50-day moving average of $870.67 and a 200-day moving average of $816.15.

Costco Wholesale (NASDAQ:COST – Get Your Free Report ) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. In the same quarter last year, the business earned $4.86 EPS. The company’s revenue for the quarter was up 1.0% year over year. As a group, equities analysts predict that Costco Wholesale Co. will post 16.01 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a dividend of $4.64 on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26. Costco Wholesale’s payout ratio is currently 28.75%.

About Costco Wholesale

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of member 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 wide range of merchandise categories.

Featured stories

Want to see what other hedge funds own COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Costco Wholesale Co. (NASDAQ:COST – Free Report).

Get news and reviews for Costco Wholesale Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Costco Wholesale and related companies with MarketBeat.com’s FREE daily email newsletter.