UMB Bank N A MO Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

UMB Bank N A MO lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 12.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 136,215 shares of the retailer’s stock after selling 19,532 shares during the quarter. Costco Wholesale accounts for approximately 0.9% of UMB Bank N A MO’s holdings, making the stock its 20th largest position. UMB Bank N A MO’s holdings in Costco Wholesale were worth $35,996,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in COST. Horan Capital Advisors LLC. bought a new stake in Costco Wholesale in the first quarter worth $26,000. Arbor Wealth Management LLC bought a new stake in Costco Wholesale in the fourth quarter worth $33,000. Thor Advisors LLC bought a new stake in Costco Wholesale in the first quarter worth $35,000. C J Advisory Inc bought a new stake in Costco Wholesale in the first quarter worth $36,000. Finally, JNBA Financial Advisors increased its position 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 purchasing an additional 126 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on COST. Nomura boosted their price target on shares of Costco Wholesale from $235.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a research report on Tuesday, June 11th. BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup reduced their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Evercore ISI restated a “buy” rating on shares of Costco Wholesale in a research report on Sunday. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $263.77.

In other news, VP James P. Murphy sold 10,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the completion of the sale, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the sale, the vice president now directly owns 66,479 shares of the company’s stock, valued at $16,762,679.85. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock worth $7,380,374 in the last quarter. Company insiders own 0.21% of the company’s stock.

COST stock traded down $0.86 during mid-day trading on Friday, reaching $273.94. 1,154,196 shares of the stock traded hands, compared to its average volume of 1,821,063. 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 Co. has a one year low of $189.51 and a one year high of $284.31. The firm has a market cap of $120.85 billion, a PE ratio of 40.11, a PEG ratio of 3.85 and a beta of 0.95. The company has a 50-day simple moving average of $273.46.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business had revenue of $34.74 billion for the quarter, compared to analysts’ expectations of $34.72 billion. During the same quarter in the previous year, the business posted $1.70 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Costco Wholesale Co. will post 8.04 earnings per share for the current year.

Costco Wholesale announced that its Board of Directors has initiated a share buyback plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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