Slow Capital Inc. Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Slow Capital Inc. cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,842 shares of the retailer’s stock after selling 469 shares during the quarter. Costco Wholesale makes up approximately 1.7% of Slow Capital Inc.’s holdings, making the stock its 7th largest holding. Slow Capital Inc.’s holdings in Costco Wholesale were worth $4,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Horan Capital Advisors LLC. purchased a new position in Costco Wholesale in the 1st quarter worth approximately $26,000. Arbor Wealth Management LLC purchased a new position in Costco Wholesale in the 4th quarter worth approximately $33,000. Thor Advisors LLC purchased a new position in Costco Wholesale in the 1st quarter worth approximately $35,000. C J Advisory Inc purchased a new position in Costco Wholesale in the 1st quarter worth approximately $36,000. Finally, JNBA Financial Advisors raised its holdings in Costco Wholesale by 484.6% in the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after acquiring an additional 126 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

In related news, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total value of $799,170.00. Following the completion of the transaction, the chief financial officer now owns 27,582 shares of the company’s stock, valued at approximately $7,347,568.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick J. Callans sold 2,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $252.15, for a total transaction of $504,300.00. Following the completion of the transaction, the vice president now directly owns 66,479 shares of the company’s stock, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock valued at $7,380,374 in the last ninety days. 0.21% of the stock is currently owned by insiders.

A number of equities analysts recently weighed in on the stock. Loop Capital boosted their price objective on shares of Costco Wholesale to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $261.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James boosted their price objective on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Finally, Gordon Haskett lowered shares of Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price for the company. in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $263.77.

Shares of COST stock traded up $5.03 during mid-day trading on Tuesday, reaching $276.34. 1,077,344 shares of the company’s stock traded hands, compared to its average volume of 1,782,953. The stock has a market cap of $120.48 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 3.84 and a beta of 0.95. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $273.82. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $284.31.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. Costco Wholesale’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS. On average, research analysts anticipate that Costco Wholesale Co. will post 8.04 earnings per share for the current year.

Costco Wholesale declared that its board has approved a stock repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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.

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

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