Webster Bank N. A. Decreases Stake in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Webster Bank N. A. decreased its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,054 shares of the retailer’s stock after selling 839 shares during the period. Costco Wholesale makes up 1.2% of Webster Bank N. A.’s investment portfolio, making the stock its 18th largest holding. Webster Bank N. A.’s holdings in Costco Wholesale were worth $11,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. grew its holdings in Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Costco Wholesale during the first quarter worth approximately $510,353,000. Assenagon Asset Management S.A. grew its stake in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after buying an additional 620,341 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Costco Wholesale by 51,747.5% in the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after acquiring an additional 618,383 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Costco Wholesale by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after acquiring an additional 485,051 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale 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 $5,041,057.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,674 shares of company stock worth $5,831,324 in the last three months. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Loop Capital boosted their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Bank of America increased their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird upped their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and upped their target price for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $886.74.

Get Our Latest Analysis on COST

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded down $4.60 during trading hours on Friday, reaching $889.03. The company’s stock had a trading volume of 1,527,294 shares, compared to its average volume of 1,956,339. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. The company’s 50 day simple moving average is $882.80 and its 200 day simple moving average is $827.34. The stock has a market cap of $394.14 billion, a P/E ratio of 55.08, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.86 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Costco Wholesale Company Profile

(Free Report)

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.

Read More