Mechanics Bank Trust Department Has $5.37 Million Stake in Costco Wholesale Co. (COST)

Mechanics Bank Trust Department cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,659 shares of the retailer’s stock after selling 897 shares during the quarter. Costco Wholesale accounts for 1.3% of Mechanics Bank Trust Department’s portfolio, making the stock its 23rd largest position. Mechanics Bank Trust Department’s holdings in Costco Wholesale were worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of COST. Janus Henderson Group PLC lifted its position in shares of Costco Wholesale by 3,005.9% in the second quarter. Janus Henderson Group PLC now owns 4,180,770 shares of the retailer’s stock worth $668,630,000 after purchasing an additional 4,046,164 shares in the last quarter. Harbour Capital Advisors LLC raised its position in Costco Wholesale by 15,937.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock valued at $9,058,000 after acquiring an additional 1,439,613 shares in the last quarter. Capital World Investors raised its position in Costco Wholesale by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares in the last quarter. Vanguard Group Inc. raised its position in Costco Wholesale by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after acquiring an additional 937,121 shares in the last quarter. Finally, BlackRock Inc. raised its position in Costco Wholesale by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares in the last quarter. 70.91% of the stock is owned by institutional investors.

In related news, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.20, for a total value of $966,000.00. Following the completion of the transaction, the vice president now directly owns 52,529 shares in the company, valued at approximately $10,148,602.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John D. Mckay sold 8,111 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $172.78, for a total value of $1,401,418.58. Following the completion of the sale, the insider now owns 66,751 shares in the company, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. Insiders have sold a total of 82,027 shares of company stock valued at $14,914,835 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

COST has been the topic of several recent research reports. Zacks Investment Research lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Robert W. Baird reiterated an “outperform” rating and set a $200.00 price target on shares of Costco Wholesale in a report on Monday, September 25th. Vetr downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective on the stock. in a research note on Wednesday, September 27th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research note on Thursday, October 5th. Finally, Wells Fargo & Co set a $170.00 target price on Costco Wholesale and gave the stock a “hold” rating in a research report on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $188.90.

Shares of Costco Wholesale Co. (NASDAQ COST) traded up $3.96 during mid-day trading on Thursday, reaching $189.38. The company had a trading volume of 4,670,700 shares, compared to its average volume of 3,170,000. The firm has a market capitalization of $83,170.00, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $195.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion during the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. analysts expect that Costco Wholesale Co. will post 6.59 EPS for the current year.

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Costco Wholesale Company Profile

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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

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