Bridges Investment Management Inc. trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,390 shares of the retailer’s stock after selling 2,220 shares during the period. Bridges Investment Management Inc.’s holdings in Costco Wholesale were worth $5,406,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cordasco Financial Network purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $25,000. Sageworth Trust Co purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $29,000. Tobias Financial Advisors Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $29,000. ERTS Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $30,000. Finally, PSI Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 70.23% of the company’s stock.
A number of research firms have recently commented on COST. Raymond James boosted their price target on shares of Costco Wholesale from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Oppenheimer upgraded shares of Costco Wholesale to a “buy” rating and set a $335.00 price target for the company in a research report on Thursday, March 5th. Cleveland Research upgraded shares of Costco Wholesale from a “neutral” rating to a “buy” rating in a research report on Monday, March 2nd. Argus boosted their price target on shares of Costco Wholesale from $330.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. They noted that the move was a valuation call. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $315.42.
COST stock opened at $280.86 on Thursday. The firm’s 50-day moving average price is $306.29 and its two-hundred day moving average price is $299.64. Costco Wholesale Co. has a 12-month low of $233.05 and a 12-month high of $325.26. The stock has a market capitalization of $125.82 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 3.90 and a beta of 0.91. 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 announced its quarterly earnings results on Thursday, March 5th. The retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.04. Costco Wholesale had a net margin of 2.39% and a return on equity of 23.41%. The company had revenue of $39.10 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company earned $2.01 earnings per share. Costco Wholesale’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts predict that Costco Wholesale Co. will post 8.72 EPS for the current year.
In related news, Director Susan L. Decker sold 3,850 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $300.41, for a total transaction of $1,156,578.50. Following the transaction, the director now owns 34,582 shares in the company, valued at $10,388,778.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard A. Galanti sold 1,448 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $306.51, for a total transaction of $443,826.48. Following the completion of the sale, the chief financial officer now owns 23,967 shares in the company, valued at approximately $7,346,125.17. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
Costco Wholesale Company 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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