First Business Financial Services Inc. Acquires 466 Shares of Costco Wholesale Co. (NASDAQ:COST)

First Business Financial Services Inc. increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,076 shares of the retailer’s stock after buying an additional 466 shares during the quarter. Costco Wholesale accounts for about 0.4% of First Business Financial Services Inc.’s holdings, making the stock its 22nd biggest holding. First Business Financial Services Inc.’s holdings in Costco Wholesale were worth $3,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Financial Connections Group Inc. increased its stake in shares of 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 buying an additional 39 shares during the period. Bank & Trust Co bought a new stake in Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. increased its holdings in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale during the second quarter worth about $50,000. Finally, Fairway Wealth LLC increased its holdings in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale 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 completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock worth $9,826,115 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ:COST opened at $923.89 on Friday. Costco Wholesale Co. has a 52-week low of $572.24 and a 52-week high of $962.00. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $896.25 and its 200 day moving average price is $855.99. The firm has a market cap of $409.35 billion, a P/E ratio of 55.76, a PEG ratio of 5.76 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Oppenheimer raised their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Loop Capital increased their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

About Costco Wholesale

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.