Great Lakes Advisors LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 76.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,930 shares of the retailer’s stock after selling 9,423 shares during the period. Great Lakes Advisors LLC’s holdings in Costco Wholesale were worth $688,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Parkside Investments LLC acquired a new position in Costco Wholesale in the 3rd quarter worth $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $119,000. Lee Financial Co raised its stake in shares of Costco Wholesale by 63.7% in the 3rd quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after purchasing an additional 216 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Costco Wholesale by 180.0% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after purchasing an additional 360 shares in the last quarter. Finally, Legacy Advisors LLC raised its stake in shares of Costco Wholesale by 632.9% in the 3rd quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock valued at $136,000 after purchasing an additional 500 shares in the last quarter. 70.60% of the stock is owned by institutional investors.
In other Costco Wholesale news, VP Roland Michael Vachris sold 6,600 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $225.88, for a total value of $1,490,808.00. Following the completion of the sale, the vice president now owns 17,282 shares in the company, valued at approximately $3,903,658.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Franz E. Lazarus sold 23,000 shares of the stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $226.76, for a total transaction of $5,215,480.00. Following the completion of the sale, the vice president now owns 6,830 shares of the company’s stock, valued at approximately $1,548,770.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,662 shares of company stock valued at $13,624,025. 0.21% of the stock is owned by insiders.
COST stock traded up $0.74 on Thursday, hitting $210.64. 2,304,648 shares of the company’s stock traded hands, compared to its average volume of 2,373,278. Costco Wholesale Co. has a 1-year low of $175.79 and a 1-year high of $245.16. The firm has a market cap of $90.85 billion, a PE ratio of 30.84, a P/E/G ratio of 2.70 and a beta of 0.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.48.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 13th. The retailer reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.66 billion. Costco Wholesale had a net margin of 2.25% and a return on equity of 24.54%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 earnings per share. As a group, sell-side analysts expect that Costco Wholesale Co. will post 7.64 earnings per share for the current year.
Several equities research analysts recently weighed in on COST shares. Oppenheimer dropped their price objective on shares of Costco Wholesale from $262.00 to $240.00 in a research note on Friday, December 14th. Citigroup increased their price objective on shares of Costco Wholesale from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Bank of America set a $255.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Thursday, October 4th. Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research report on Wednesday, October 3rd. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average target price of $239.46.
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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