Pacer Advisors Inc. Invests $16.18 Million in Costco Wholesale Co. (COST) Stock

Pacer Advisors Inc. purchased a new position in Costco Wholesale Co. (NASDAQ:COST) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 66,832 shares of the retailer’s stock, valued at approximately $16,183,000.

A number of other institutional investors have also recently modified their holdings of COST. Martingale Asset Management L P raised its holdings in Costco Wholesale by 145.0% during the 3rd quarter. Martingale Asset Management L P now owns 31,994 shares of the retailer’s stock valued at $7,516,000 after acquiring an additional 18,935 shares during the period. GSA Capital Partners LLP bought a new stake in Costco Wholesale during the 3rd quarter valued at $284,000. Kentucky Retirement Systems bought a new stake in Costco Wholesale during the 3rd quarter valued at $4,293,000. Nordea Investment Management AB raised its holdings in Costco Wholesale by 2.2% during the 3rd quarter. Nordea Investment Management AB now owns 23,808 shares of the retailer’s stock valued at $5,591,000 after acquiring an additional 517 shares during the period. Finally, B. Riley Wealth Management Inc. bought a new stake in Costco Wholesale during the 3rd quarter valued at $694,000. Institutional investors own 72.22% of the company’s stock.

In related news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the completion of the transaction, the vice president now directly owns 30,082 shares in the company, valued at $6,932,998.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the transaction, the director now owns 48,589 shares of the company’s stock, valued at $11,272,648. The disclosure for this sale can be found here. Insiders sold 8,587 shares of company stock valued at $2,004,576 over the last quarter. 0.21% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Costco Wholesale in a report on Tuesday, April 9th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $247.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Oppenheimer boosted their target price on shares of Costco Wholesale from $245.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Nomura boosted their target price on shares of Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Loop Capital upped their price target on shares of Costco Wholesale from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $248.00.

Costco Wholesale stock opened at $245.81 on Monday. The firm has a market capitalization of $108.13 billion, a PE ratio of 35.99, a PEG ratio of 3.47 and a beta of 0.95. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $247.25. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.34. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. The firm had revenue of $35.40 billion for the quarter. During the same period in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 7.9 earnings per share for the current year.

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About Costco Wholesale

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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