Wesbanco Bank Inc. Lowers Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Wesbanco Bank Inc. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,283 shares of the retailer’s stock after selling 68 shares during the quarter. Wesbanco Bank Inc.’s holdings in Costco Wholesale were worth $10,003,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth $32,000. Financial Connections Group Inc. grew its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter valued at about $48,000. Ruedi Wealth Management Inc. raised its holdings in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $50,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’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 approximately $7,671,983.70. 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 this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, 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. In the last 90 days, insiders sold 4,824 shares of company stock valued at $4,260,493. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

COST opened at $889.76 on Tuesday. The firm has a fifty day moving average price of $884.56 and a 200 day moving average price of $829.12. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The stock has a market cap of $394.46 billion, a P/E ratio of 55.13, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COST. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Gordon Haskett raised 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. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Oppenheimer boosted their target price on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Barclays increased their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” 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. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $886.74.

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.