Cornerstone Wealth Group LLC Acquires 153 Shares of Costco Wholesale Corporation $COST

Cornerstone Wealth Group LLC grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,999 shares of the retailer’s stock after purchasing an additional 153 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Costco Wholesale were worth $5,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bulwark Capital Corp bought a new position in Costco Wholesale during the second quarter worth about $25,000. Anderson Financial Strategies LLC boosted its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares during the period. Financial Connections Group Inc. boosted its position in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after purchasing an additional 39 shares during the period. eCIO Inc. bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $48,000. Finally, Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

COST has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Morgan Stanley cut their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Sanford C. Bernstein raised their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Jefferies Financial Group restated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,066.23.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, 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 transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.6%

Shares of Costco Wholesale stock opened at $935.56 on Tuesday. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The firm has a market cap of $414.62 billion, a PE ratio of 51.38, a PEG ratio of 5.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The company has a 50 day simple moving average of $951.65 and a two-hundred day simple moving average of $972.04.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same period in the previous year, the business posted $5.15 earnings per share. Costco Wholesale’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

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.