Concord Asset Management LLC VA reduced its position in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,789 shares of the retailer’s stock after selling 38 shares during the period. Concord Asset Management LLC VA’s holdings in Costco Wholesale were worth $2,761,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of COST. Brighton Jones LLC boosted its stake in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after buying an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after acquiring an additional 130 shares in the last quarter. GAMMA Investing LLC raised its holdings in Costco Wholesale by 12.6% during the first quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer’s stock worth $8,160,000 after acquiring an additional 966 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Costco Wholesale by 7.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,961 shares of the retailer’s stock worth $139,936,000 after purchasing an additional 10,639 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Costco Wholesale by 8.8% during the 1st quarter. Sound Income Strategies LLC now owns 986 shares of the retailer’s stock worth $932,000 after purchasing an additional 80 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on COST. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Mizuho cut their price target on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research note on Thursday. Daiwa Capital Markets dropped their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Finally, Truist Financial dropped their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $1,066.23.
Costco Wholesale Trading Up 0.6%
Shares of NASDAQ:COST opened at $935.56 on Tuesday. The stock has a market cap of $414.62 billion, a PE ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98. The business has a 50 day moving average of $951.65 and a 200-day moving average of $972.04. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23.
Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $5.15 EPS. As a group, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.
Insider Activity
In related news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Costco Wholesale 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.
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