Lyell Wealth Management LP Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Lyell Wealth Management LP boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,055 shares of the retailer’s stock after purchasing an additional 665 shares during the quarter. Costco Wholesale comprises about 1.8% of Lyell Wealth Management LP’s holdings, making the stock its 16th biggest holding. Lyell Wealth Management LP’s holdings in Costco Wholesale were worth $5,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COST. Horan Capital Advisors LLC. purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at about $26,000. Thor Advisors LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at about $35,000. C J Advisory Inc purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at about $36,000. JNBA Financial Advisors boosted its holdings in shares of Costco Wholesale by 484.6% during the 1st 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 last quarter. Finally, Canton Hathaway LLC boosted its holdings in shares of Costco Wholesale by 41.0% in the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after buying an additional 41 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

In related news, insider James C. Klauer sold 5,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the completion of the transaction, the insider now directly owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the completion of the transaction, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,136 shares of company stock worth $7,380,374. Company insiders own 0.21% of the company’s stock.

Shares of Costco Wholesale stock traded down $5.87 on Wednesday, hitting $270.39. 85,736 shares of the company traded hands, compared to its average volume of 1,894,437. The firm has a market cap of $120.48 billion, a PE ratio of 39.83, a P/E/G ratio of 3.84 and a beta of 0.95. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The company’s 50-day moving average price is $274.00.

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

Costco Wholesale declared that its board has authorized a share repurchase plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

COST has been the topic of a number of research reports. Robert W. Baird raised their price objective on shares of Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Gordon Haskett downgraded shares of Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 price objective on the stock. in a report on Wednesday, May 29th. They noted that the move was a valuation call. Nomura raised their price objective on shares of Costco Wholesale from $235.00 to $256.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th. 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 a consensus rating of “Buy” and a consensus price target of $263.77.

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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