Costco Wholesale Corporation (NASDAQ:COST) Stock Position Raised by Parcion Private Wealth LLC

Parcion Private Wealth LLC lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,470 shares of the retailer’s stock after buying an additional 155 shares during the period. Parcion Private Wealth LLC’s holdings in Costco Wholesale were worth $5,173,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bridgewater Advisors Inc. acquired a new stake in shares of Costco Wholesale in the first quarter valued at approximately $1,782,000. Larson Financial Group LLC boosted its position in Costco Wholesale by 2.6% during the 1st quarter. Larson Financial Group LLC now owns 9,153 shares of the retailer’s stock worth $8,657,000 after acquiring an additional 236 shares during the period. PAX Financial Group LLC boosted its position in Costco Wholesale by 0.9% during the 1st quarter. PAX Financial Group LLC now owns 1,532 shares of the retailer’s stock worth $1,449,000 after acquiring an additional 13 shares during the period. Wealthfront Advisers LLC boosted its position in Costco Wholesale by 8.3% during the 1st quarter. Wealthfront Advisers LLC now owns 59,235 shares of the retailer’s stock worth $56,023,000 after acquiring an additional 4,556 shares during the period. Finally, First Business Financial Services Inc. boosted its position in Costco Wholesale by 7.8% during the 1st quarter. First Business Financial Services Inc. now owns 4,508 shares of the retailer’s stock worth $4,264,000 after acquiring an additional 328 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,547 shares of company stock worth $13,396,790 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Down 1.3%

COST stock opened at $967.68 on Wednesday. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $429.15 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 6.10 and a beta of 0.97. The company has a 50 day moving average of $1,002.24 and a two-hundred day moving average of $982.43.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the firm earned $3.78 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a report on Tuesday, June 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, July 10th. Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective for the company. Cfra Research upgraded shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Finally, Loop Capital decreased their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,037.48.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.