Hodges Capital Management Inc. trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,131 shares of the retailer’s stock after selling 604 shares during the quarter. Hodges Capital Management Inc.’s holdings in Costco Wholesale were worth $1,490,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in COST. BKD Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 20.8% during the 2nd quarter. BKD Wealth Advisors LLC now owns 1,435 shares of the retailer’s stock valued at $300,000 after purchasing an additional 247 shares in the last quarter. Hills Bank & Trust Co. lifted its stake in Costco Wholesale by 4.2% in the 2nd quarter. Hills Bank & Trust Co. now owns 6,328 shares of the retailer’s stock valued at $1,322,000 after acquiring an additional 254 shares in the last quarter. CNB Bank lifted its stake in Costco Wholesale by 17.2% in the 1st quarter. CNB Bank now owns 1,775 shares of the retailer’s stock valued at $335,000 after acquiring an additional 261 shares in the last quarter. Nwam LLC lifted its stake in Costco Wholesale by 1.5% in the 2nd quarter. Nwam LLC now owns 18,251 shares of the retailer’s stock valued at $3,814,000 after acquiring an additional 264 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Costco Wholesale by 2.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,065 shares of the retailer’s stock valued at $2,462,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.
NASDAQ COST traded up $2.07 on Friday, reaching $220.31. The stock had a trading volume of 2,821,826 shares, compared to its average volume of 1,843,513. The firm has a market cap of $95.71 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 2.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47. Costco Wholesale Co. has a 1-year low of $150.06 and a 1-year high of $225.48.
COST has been the topic of several research reports. Gordon Haskett cut Costco Wholesale from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Loop Capital assumed coverage on Costco Wholesale in a research note on Wednesday, May 16th. They set a “buy” rating and a $224.00 price objective on the stock. Citigroup upped their price objective on Costco Wholesale from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, June 1st. Argus upped their price objective on Costco Wholesale from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Finally, ValuEngine upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $206.74.
In related news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $218.65, for a total transaction of $655,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total value of $3,288,300.00. Following the sale, the vice president now owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,491 shares of company stock valued at $8,754,977. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale 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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