Wedge Capital Management L L P NC Takes $213,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Wedge Capital Management L L P NC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 240 shares of the retailer’s stock, valued at approximately $213,000.

Other hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale in the first quarter valued at $32,000. Financial Connections Group Inc. raised its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $50,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Evercore ISI raised their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, TD Cowen upped their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $890.07.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,224 shares of company stock valued at $9,974,973 over the last quarter. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.2 %

Shares of NASDAQ:COST opened at $885.29 on Friday. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $888.57 and its 200-day simple moving average is $831.04. The company has a market cap of $392.48 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.86 EPS. As a group, equities research analysts predict that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Costco Wholesale Profile

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.