Man Group plc Raises Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Man Group plc lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 84.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,189 shares of the retailer’s stock after buying an additional 54,241 shares during the quarter. Man Group plc’s holdings in Costco Wholesale were worth $34,739,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH raised its position in Costco Wholesale by 1.2% during the 4th quarter. Trust Co. of Toledo NA OH now owns 2,786 shares of the retailer’s stock worth $818,000 after buying an additional 34 shares during the last quarter. Doyle Wealth Management raised its position in Costco Wholesale by 1.8% during the 4th quarter. Doyle Wealth Management now owns 1,904 shares of the retailer’s stock worth $560,000 after buying an additional 34 shares during the last quarter. Bernicke Wealth Management Ltd. raised its position in Costco Wholesale by 0.8% during the 4th quarter. Bernicke Wealth Management Ltd. now owns 4,567 shares of the retailer’s stock worth $1,342,000 after buying an additional 35 shares during the last quarter. Jacobi Capital Management LLC grew its stake in shares of Costco Wholesale by 14.9% during the 4th quarter. Jacobi Capital Management LLC now owns 285 shares of the retailer’s stock worth $84,000 after purchasing an additional 37 shares during the period. Finally, Bangor Savings Bank grew its stake in shares of Costco Wholesale by 3.8% during the 4th quarter. Bangor Savings Bank now owns 1,092 shares of the retailer’s stock worth $321,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Nomura upped their price target on shares of Costco Wholesale from $300.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. UBS Group upped their price target on shares of Costco Wholesale from $335.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Wells Fargo & Co upped their price target on shares of Costco Wholesale from $290.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. BMO Capital Markets upped their price target on shares of Costco Wholesale from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Loop Capital reaffirmed a “buy” rating and set a $345.00 price target on shares of Costco Wholesale in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $315.42.

Shares of NASDAQ COST opened at $280.86 on Thursday. The stock has a market cap of $125.82 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 3.90 and a beta of 0.91. Costco Wholesale Co. has a 52 week low of $233.05 and a 52 week high of $325.26. The company’s 50-day moving average price is $306.29 and its 200 day moving average price is $299.64. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 5th. The retailer reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.04. The firm had revenue of $39.10 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Costco Wholesale had a net margin of 2.39% and a return on equity of 23.41%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 EPS. As a group, research analysts expect that Costco Wholesale Co. will post 8.72 earnings per share for the current year.

In other Costco Wholesale news, Director Susan L. Decker sold 3,850 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $300.41, for a total value of $1,156,578.50. Following the transaction, the director now directly owns 34,582 shares in the company, valued at approximately $10,388,778.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Galanti sold 1,448 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $306.51, for a total transaction of $443,826.48. Following the completion of the transaction, the chief financial officer now owns 23,967 shares in the company, valued at $7,346,125.17. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

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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