B. Riley Wealth Management Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,955 shares of the retailer’s stock, valued at approximately $694,000.
Several other institutional investors and hedge funds also recently made changes to their positions in COST. Parkside Investments LLC purchased a new stake in shares of Costco Wholesale in the third quarter valued at approximately $105,000. Wunderlich Capital Managemnt acquired a new position in shares of Costco Wholesale in the third quarter worth $117,000. Lee Financial Co raised its holdings in shares of Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock worth $130,000 after acquiring an additional 216 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock worth $132,000 after acquiring an additional 360 shares during the last quarter. Finally, Legacy Advisors LLC raised its holdings in shares of Costco Wholesale by 632.9% in the third quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock worth $136,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.
A number of research firms have recently weighed in on COST. Zacks Investment Research cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, December 11th. Barclays reiterated a “hold” rating and issued a $225.00 target price on shares of Costco Wholesale in a research note on Wednesday. Wells Fargo & Co reiterated a “hold” rating on shares of Costco Wholesale in a research note on Friday. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 15th. Finally, Loop Capital dropped their target price on Costco Wholesale to $260.00 and set a “buy” rating for the company in a research note on Friday, December 14th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale presently has an average rating of “Buy” and an average target price of $239.46.
In other news, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $226.76, for a total value of $5,215,480.00. Following the completion of the transaction, the vice president now owns 6,830 shares of the company’s stock, valued at approximately $1,548,770.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 739 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $205.00, for a total transaction of $151,495.00. Following the transaction, the director now owns 52,249 shares of the company’s stock, valued at $10,711,045. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,662 shares of company stock valued at $13,624,025. Corporate insiders own 0.21% of the company’s stock.
COST traded down $0.13 during trading hours on Friday, hitting $210.51. The company’s stock had a trading volume of 1,749,507 shares, compared to its average volume of 2,305,004. Costco Wholesale Co. has a fifty-two week low of $175.79 and a fifty-two week high of $245.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.48. The stock has a market cap of $92.46 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.75 and a beta of 0.99.
Costco Wholesale (NASDAQ:COST) last posted 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 during 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 was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. Equities analysts anticipate that Costco Wholesale Co. will post 7.64 EPS for the current year.
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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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