Community Financial Services Group LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,917 shares of the retailer’s stock after purchasing an additional 247 shares during the period. Costco Wholesale accounts for 3.3% of Community Financial Services Group LLC’s portfolio, making the stock its 8th largest position. Community Financial Services Group LLC’s holdings in Costco Wholesale were worth $9,756,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of COST. Horan Capital Advisors LLC. purchased a new stake in Costco Wholesale in the first quarter worth approximately $26,000. Arbor Wealth Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth approximately $33,000. Thor Advisors LLC purchased a new stake in Costco Wholesale in the first quarter worth approximately $35,000. C J Advisory Inc purchased a new stake in Costco Wholesale in the first quarter worth approximately $36,000. Finally, JNBA Financial Advisors boosted its holdings in Costco Wholesale by 484.6% in the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 71.27% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Nomura raised their target price 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. Citigroup dropped their target price on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Robert W. Baird raised their target price 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. Gordon Haskett cut shares of Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price on the stock. in a report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Raymond James lifted their price target on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $262.73.
In other news, Director Susan L. Decker sold 2,790 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $254.62, for a total transaction of $710,389.80. Following the sale, the director now directly owns 45,405 shares in the company, valued at approximately $11,561,021.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the sale, the director now owns 41,803 shares in the company, valued at $11,213,654.75. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock worth $7,380,374 over the last 90 days. Insiders own 0.21% of the company’s stock.
Shares of COST stock traded down $2.07 on Friday, hitting $272.50. 1,925,333 shares of the stock traded hands, compared to its average volume of 1,530,776. The stock has a market cap of $120.75 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The business has a 50 day moving average price of $272.18. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The firm had revenue of $34.74 billion for the quarter, compared to the consensus estimate 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 was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS. Analysts forecast that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale announced that its Board of Directors has approved a stock buyback plan on Friday, April 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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