Costco Wholesale Co. (NASDAQ:COST) Stake Lessened by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,900 shares of the retailer’s stock after selling 55 shares during the period. Ropes Wealth Advisors LLC’s holdings in Costco Wholesale were worth $766,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Horan Capital Advisors LLC. acquired a new position in shares of Costco Wholesale during the first quarter valued at $26,000. Arbor Wealth Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at $33,000. Thor Advisors LLC acquired a new position in shares of Costco Wholesale during the first quarter valued at $35,000. C J Advisory Inc acquired a new position in shares of Costco Wholesale during the first quarter valued at $36,000. Finally, JNBA Financial Advisors boosted its holdings in shares of Costco Wholesale by 484.6% during the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Costco Wholesale stock traded up $4.60 during midday trading on Tuesday, hitting $275.91. The company’s stock had a trading volume of 770,092 shares, compared to its average volume of 1,782,953. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The business’s 50-day simple moving average is $273.82. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $284.31. The firm has a market capitalization of $120.48 billion, a P/E ratio of 40.40, a PEG ratio of 3.84 and a beta of 0.95.

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

Costco Wholesale announced that its board has initiated a stock buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

COST has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Costco Wholesale from $261.00 to $289.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Citigroup reduced their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Evercore ISI reissued a “buy” rating on shares of Costco Wholesale in a report on Sunday. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Finally, BMO Capital Markets set a $275.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $263.77.

In other Costco Wholesale news, VP Patrick J. Callans sold 2,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $252.15, for a total transaction of $504,300.00. Following the sale, the vice president now owns 66,479 shares in the company, valued at approximately $16,762,679.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James C. Klauer sold 5,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $255.53, for a total value of $1,277,650.00. Following the sale, the insider now owns 48,310 shares in the company, valued at approximately $12,344,654.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by company insiders.

Costco Wholesale Company 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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