Norway Savings Bank Acquires 93 Shares of Costco Wholesale Co. (NASDAQ:COST)

Norway Savings Bank increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,773 shares of the retailer’s stock after buying an additional 93 shares during the period. Norway Savings Bank’s holdings in Costco Wholesale were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Baillie Gifford & Co. bought a new position in Costco Wholesale in the second quarter worth approximately $31,000. KB Financial Partners LLC purchased a new position in Costco Wholesale in the first quarter worth $35,000. West Financial Advisors LLC grew its holdings in Costco Wholesale by 100.0% in the second quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after purchasing an additional 50 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Costco Wholesale in the second quarter worth $35,000. Finally, PNC Managed Account Solutions Inc. purchased a new position in Costco Wholesale in the second quarter worth $42,000. 66.87% of the stock is owned by institutional investors.

Several research firms have issued reports on COST. Oppenheimer lifted their price target on shares of Costco Wholesale from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Thursday, November 4th. They noted that the move was a valuation call. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and lifted their price target for the stock from $525.00 to $575.00 in a report on Thursday, November 11th. Cowen lifted their price target on shares of Costco Wholesale from $440.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, October 7th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a report on Monday, September 6th. Finally, Credit Suisse Group boosted their price objective on shares of Costco Wholesale from $400.00 to $490.00 and gave the company a “neutral” rating in a report on Monday, September 27th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $496.23.

COST opened at $549.73 on Thursday. Costco Wholesale Co. has a twelve month low of $307.00 and a twelve month high of $550.83. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $481.58 and a 200 day moving average price of $438.24. The company has a market cap of $242.88 billion, a PE ratio of 48.78, a price-to-earnings-growth ratio of 5.08 and a beta of 0.65.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.56% and a return on equity of 29.62%. The company had revenue of $61.44 billion during the quarter, compared to analysts’ expectations of $61.45 billion. During the same quarter in the prior year, the company earned $3.13 EPS. Costco Wholesale’s revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts expect that Costco Wholesale Co. will post 12.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were paid a dividend of $0.79 per share. The ex-dividend date was Thursday, October 28th. This represents a $3.16 annualized dividend and a yield of 0.57%. Costco Wholesale’s dividend payout ratio is presently 28.04%.

Costco Wholesale Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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