IBM Retirement Fund Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

IBM Retirement Fund lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the retailer’s stock after selling 516 shares during the period. IBM Retirement Fund’s holdings in Costco Wholesale were worth $1,528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Country Club Trust Company n.a. boosted its stake in shares of Costco Wholesale by 8.0% in the 4th quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock worth $1,336,000 after buying an additional 484 shares during the last quarter. Bernicke Wealth Management Ltd. lifted its position in Costco Wholesale by 3.3% during the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after purchasing an additional 127 shares in the last quarter. Ruggie Capital Group purchased a new position in Costco Wholesale during the fourth quarter valued at $61,000. Ipswich Investment Management Co. Inc. lifted its position in Costco Wholesale by 80.1% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock valued at $3,133,000 after purchasing an additional 6,839 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Costco Wholesale by 2.5% during the fourth quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock valued at $1,585,000 after purchasing an additional 191 shares in the last quarter. 72.22% of the stock is owned by institutional investors.

Shares of NASDAQ COST traded up $2.38 during mid-day trading on Wednesday, hitting $247.96. The stock had a trading volume of 939,352 shares, compared to its average volume of 2,069,809. 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 Co. has a twelve month low of $189.51 and a twelve month high of $248.70. The company has a market cap of $108.03 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 3.47 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, beating 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 company had revenue of $35.40 billion for the quarter. During the same period in the previous year, the company posted $1.59 earnings per share. Research analysts expect that Costco Wholesale Co. will post 7.9 earnings per share for the current year.

In other Costco Wholesale news, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value of $475,368.00. Following the sale, the director now directly owns 48,589 shares of the company’s stock, valued at $11,272,648. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $965,208.36. Following the completion of the sale, the vice president now directly owns 30,082 shares in the company, valued at $6,932,998.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,587 shares of company stock worth $2,004,576. 0.21% of the stock is owned by corporate insiders.

Several research firms recently weighed in on COST. Robert W. Baird reiterated an “outperform” rating and set a $270.00 target price (up from $250.00) on shares of Costco Wholesale in a research report on Wednesday. Oppenheimer lifted their target price on Costco Wholesale from $245.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Nomura raised their price target on Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Stifel Nicolaus raised their price target on Costco Wholesale from $247.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $265.00 price target (up from $250.00) on shares of Costco Wholesale in a report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $248.95.

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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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