Wedmont Private Capital Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Wedmont Private Capital grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,152 shares of the retailer’s stock after buying an additional 429 shares during the period. Wedmont Private Capital’s holdings in Costco Wholesale were worth $4,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale during the first quarter worth about $32,000. Financial Connections Group Inc. lifted its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Vima LLC acquired a new stake in Costco Wholesale during the 4th quarter worth approximately $34,000. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter valued at approximately $48,000. Finally, Ruedi Wealth Management Inc. lifted its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,174 shares of company stock worth $7,097,624 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COST. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. Melius Research assumed coverage on Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and raised their target price for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Roth Mkm upped their price target on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $883.04.

Costco Wholesale Stock Up 2.1 %

Shares of NASDAQ:COST opened at $909.10 on Thursday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company’s fifty day moving average is $878.18 and its two-hundred day moving average is $824.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The stock has a market capitalization of $403.04 billion, a price-to-earnings ratio of 56.33, a price-to-earnings-growth ratio of 5.34 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $4.86 earnings per share. Equities analysts anticipate that Costco Wholesale Co. will post 17.73 EPS for the current year.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.