Associated Banc Corp Sells 82 Shares of Costco Wholesale Co. (NASDAQ:COST)

Associated Banc Corp reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,626 shares of the retailer’s stock after selling 82 shares during the quarter. Associated Banc Corp’s holdings in Costco Wholesale were worth $1,441,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC acquired a new stake in Costco Wholesale during the second quarter worth approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Costco Wholesale during the 3rd quarter worth $58,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $960.89 on Tuesday. The stock’s 50 day moving average price is $902.24 and its two-hundred day moving average price is $867.47. The stock has a market capitalization of $425.75 billion, a price-to-earnings ratio of 57.99, a PEG ratio of 5.95 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. Costco Wholesale Co. has a 52-week low of $582.83 and a 52-week high of $976.30.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the company posted $4.86 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Analyst Upgrades and Downgrades

COST has been the subject of a number of recent analyst reports. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. DA Davidson reiterated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research report on Tuesday, September 24th. Evercore ISI increased their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is owned by company insiders.

Costco Wholesale 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.