KCS Wealth Advisory lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,933 shares of the retailer’s stock after selling 130 shares during the quarter. Costco Wholesale comprises 1.2% of KCS Wealth Advisory’s holdings, making the stock its 12th largest holding. KCS Wealth Advisory’s holdings in Costco Wholesale were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Horan Capital Advisors LLC. acquired a new stake in Costco Wholesale in the first quarter worth about $26,000. Arbor Wealth Management LLC acquired a new stake in Costco Wholesale in the fourth quarter worth about $33,000. Thor Advisors LLC acquired a new stake in Costco Wholesale in the first quarter worth about $35,000. C J Advisory Inc acquired a new stake in Costco Wholesale in the first quarter worth about $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 acquiring an additional 126 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.
COST has been the subject of a number of research reports. Robert W. Baird lifted their target price on Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Wells Fargo & Co lifted their target price on Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. They noted that the move was a valuation call. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 target price for the company in a report on Tuesday, June 11th. Finally, BMO Capital Markets set a $275.00 target price on Costco Wholesale and gave the stock a “buy” rating in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $262.73.
Costco Wholesale stock opened at $274.80 on Friday. The stock has a market capitalization of $118.44 billion, a PE ratio of 40.23, a PEG ratio of 3.78 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $284.31. The firm has a 50 day simple moving average of $273.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. The business had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 earnings per share. Equities analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its board has authorized a share buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider James C. Klauer sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the completion of the sale, the insider now directly owns 48,310 shares in the company, valued at $12,344,654.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 2,790 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $254.62, for a total value of $710,389.80. Following the sale, the director now owns 45,405 shares of the company’s stock, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock valued at $7,380,374 over the last quarter. 0.21% of the stock is owned by company insiders.
Costco Wholesale Profile
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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