Morton Capital Management LLC CA Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Morton Capital Management LLC CA lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,300 shares of the retailer’s stock after acquiring an additional 121 shares during the period. Morton Capital Management LLC CA’s holdings in Costco Wholesale were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the first quarter valued at approximately $32,000. Vima LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at approximately $34,000. Financial Connections Group Inc. boosted its holdings 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 acquiring an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the second quarter worth $48,000. Finally, Ruedi Wealth Management Inc. raised its holdings in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated 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 sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,174 shares of company stock worth $7,097,624. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on COST shares. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a report on Tuesday, September 24th. Oppenheimer raised their target price on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen boosted their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays upped their price objective on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, Morgan Stanley lifted their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $886.74.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $903.35 on Thursday. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The stock has a market capitalization of $400.49 billion, a price-to-earnings ratio of 56.33, a price-to-earnings-growth ratio of 5.34 and a beta of 0.80. 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 has a 50-day simple moving average of $879.92 and a 200-day simple moving average of $825.10.

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