TCI Wealth Advisors Inc. boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.7% during the first quarter, HoldingsChannel.com reports. The firm owned 8,072 shares of the retailer’s stock after purchasing an additional 290 shares during the quarter. Costco Wholesale comprises about 0.9% of TCI Wealth Advisors Inc.’s holdings, making the stock its 27th biggest position. TCI Wealth Advisors Inc.’s holdings in Costco Wholesale were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of COST. Nachman Norwood & Parrott Inc raised its position in Costco Wholesale by 4.1% in the first quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock worth $269,000 after acquiring an additional 44 shares during the period. Sitrin Capital Management LLC bought a new position in Costco Wholesale in the first quarter worth approximately $5,088,000. Gradient Investments LLC raised its position in Costco Wholesale by 62.7% in the first quarter. Gradient Investments LLC now owns 1,842 shares of the retailer’s stock worth $446,000 after acquiring an additional 710 shares during the period. Capital Investment Advisors LLC raised its position in Costco Wholesale by 3.0% in the first quarter. Capital Investment Advisors LLC now owns 3,062 shares of the retailer’s stock worth $741,000 after acquiring an additional 88 shares during the period. Finally, First United Bank Trust raised its position in Costco Wholesale by 3.4% in the first quarter. First United Bank Trust now owns 2,575 shares of the retailer’s stock worth $623,000 after acquiring an additional 85 shares during the period. Institutional investors own 72.22% of the company’s stock.
Several research analysts have weighed in on the stock. Nomura started coverage on shares of Costco Wholesale in a research report on Wednesday, March 20th. They issued a “neutral” rating and a $230.00 price target on the stock. Barclays restated a “hold” rating and set a $225.00 price objective on shares of Costco Wholesale in a research report on Wednesday, January 9th. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale to $248.00 and gave the company an “overweight” rating in a research report on Friday, March 8th. Deutsche Bank set a $225.00 price objective on shares of Costco Wholesale and gave the company a “hold” rating in a research report on Friday, March 8th. Finally, Robert W. Baird restated an “outperform” rating and set a $270.00 price objective (up from $250.00) on shares of Costco Wholesale in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $248.95.
COST opened at $245.58 on Wednesday. The firm has a market cap of $108.03 billion, a P/E ratio of 35.96, a P/E/G 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 debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.46.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.34. The company had revenue of $35.40 billion during the quarter. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. During the same period in the previous year, the business posted $1.59 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 7.9 EPS for the current year.
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Costco Wholesale Company 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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