Hanson & Doremus Investment Management Sells 195 Shares of Costco Wholesale Co. (NASDAQ:COST)

Hanson & Doremus Investment Management cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,175 shares of the retailer’s stock after selling 195 shares during the period. Costco Wholesale makes up 0.9% of Hanson & Doremus Investment Management’s holdings, making the stock its 20th largest position. Hanson & Doremus Investment Management’s holdings in Costco Wholesale were worth $3,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in COST. Horan Capital Advisors LLC. bought a new position in shares of Costco Wholesale in the 3rd quarter valued at $31,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Costco Wholesale by 164.3% during the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock worth $32,000 after purchasing an additional 69 shares in the last quarter. Enterprise Trust & Investment Co grew its stake in Costco Wholesale by 171.7% in the third quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock valued at $36,000 after acquiring an additional 79 shares during the period. Princeton Global Asset Management LLC raised its holdings in Costco Wholesale by 88.6% during the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock worth $35,000 after buying an additional 62 shares during the last quarter. Finally, Belmont Capital LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 69.85% of the company’s stock.

In related news, VP Paul G. Moulton sold 3,978 shares of Costco Wholesale stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $303.05, for a total value of $1,205,532.90. Following the completion of the sale, the vice president now directly owns 29,565 shares in the company, valued at $8,959,673.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 1,000 shares of Costco Wholesale stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $302.83, for a total value of $302,830.00. Following the completion of the sale, the executive vice president now owns 1 shares of the company’s stock, valued at $302.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,313 shares of company stock worth $10,591,657. Corporate insiders own 0.22% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Costco Wholesale from $329.00 to $334.00 and gave the company an “outperform” rating in a report on Friday, December 13th. BidaskClub raised Costco Wholesale from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Guggenheim reaffirmed a “hold” rating on shares of Costco Wholesale in a research report on Thursday, October 10th. Sanford C. Bernstein lowered Costco Wholesale from a “market perform” rating to an “underperform” rating and raised their target price for the company from $220.00 to $230.00 in a research report on Wednesday, September 18th. Finally, Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $300.00.

Shares of NASDAQ:COST traded up $1.63 during mid-day trading on Thursday, reaching $303.13. 63,716 shares of the company traded hands, compared to its average volume of 1,879,436. The company’s 50 day moving average price is $295.32 and its 200-day moving average price is $289.42. The firm has a market cap of $132.42 billion, a PE ratio of 37.02, a PEG ratio of 4.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.01 and a quick ratio of 0.49. Costco Wholesale Co. has a 52 week low of $205.75 and a 52 week high of $307.34.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 12th. The retailer reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.02. The company had revenue of $37.04 billion for the quarter, compared to analysts’ expectations of $37.40 billion. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. On average, research analysts predict that Costco Wholesale Co. will post 8.59 earnings per share for the current fiscal year.

About Costco Wholesale

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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