First Midwest Bank Trust Division Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

First Midwest Bank Trust Division acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 790 shares of the retailer’s stock, valued at approximately $208,000.

Other large investors have also recently bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new stake in Costco Wholesale during the 1st quarter worth approximately $26,000. Arbor Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $33,000. Thor Advisors LLC purchased a new stake in shares of Costco Wholesale in the first quarter valued at approximately $35,000. C J Advisory Inc purchased a new stake in shares of Costco Wholesale in the first quarter valued at approximately $36,000. Finally, JNBA Financial Advisors grew its position in shares of Costco Wholesale by 484.6% in the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 71.27% of the company’s stock.

Shares of Costco Wholesale stock opened at $273.37 on Friday. The stock has a market capitalization of $120.23 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $284.31. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $271.93.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to analyst estimates of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 earnings per share. Equities research analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.

Costco Wholesale declared that its board has approved a share repurchase program on Friday, April 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the retailer to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other Costco Wholesale news, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.39, for a total transaction of $799,170.00. Following the transaction, the chief financial officer now directly owns 27,582 shares in the company, valued at $7,347,568.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 2,790 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $254.62, for a total value of $710,389.80. Following the transaction, the director now owns 45,405 shares in the company, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock valued at $7,380,374 over the last quarter. 0.21% of the stock is currently owned by company insiders.

COST has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. Stifel Nicolaus upped their price target on Costco Wholesale from $261.00 to $289.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird upped their price target on Costco Wholesale from $270.00 to $290.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Goldman Sachs Group initiated coverage on Costco Wholesale in a research report on Thursday, July 11th. They issued a “buy” rating and a $290.00 price target for the company. Finally, Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $262.73.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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