Tradewinds Capital Management LLC lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,424 shares of the retailer’s stock after selling 262 shares during the period. Costco Wholesale accounts for about 0.8% of Tradewinds Capital Management LLC’s portfolio, making the stock its 18th largest position. Tradewinds Capital Management LLC’s holdings in Costco Wholesale were worth $1,969,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in COST. MUFG Securities EMEA plc bought a new stake in shares of Costco Wholesale during the second quarter worth $103,000. Well Done LLC bought a new stake in shares of Costco Wholesale during the first quarter worth $109,000. Smart Portfolios LLC bought a new stake in shares of Costco Wholesale during the first quarter worth $113,000. Trilogy Capital Inc. bought a new stake in shares of Costco Wholesale during the first quarter worth $116,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Costco Wholesale by 82.9% during the first quarter. Harvest Fund Management Co. Ltd now owns 737 shares of the retailer’s stock worth $138,000 after purchasing an additional 334 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.
Several research firms recently issued reports on COST. Cowen reiterated a “buy” rating and issued a $240.00 price target on shares of Costco Wholesale in a report on Friday, August 10th. Loop Capital raised their price target on Costco Wholesale to $230.00 and gave the company a “buy” rating in a report on Wednesday, June 20th. Telsey Advisory Group raised their price target on Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Robert W. Baird raised their price target on Costco Wholesale from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. Finally, BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $206.74.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The firm had revenue of $32.36 billion for the quarter, compared to analyst estimates of $31.89 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. research analysts anticipate that Costco Wholesale Co. will post 6.77 EPS for the current year.
In other Costco Wholesale news, VP James P. Murphy sold 15,000 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $219.22, for a total value of $3,288,300.00. Following the transaction, the vice president now owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $195.45, for a total value of $586,350.00. Following the completion of the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $1,691,424.30. The disclosure for this sale can be found here. Insiders sold 41,491 shares of company stock worth $8,754,977 in the last three months. Insiders own 0.58% of the company’s stock.
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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