Commerzbank Aktiengesellschaft FI Purchases 12,653 Shares of Costco Wholesale Co. (NASDAQ:COST)

Commerzbank Aktiengesellschaft FI grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 50.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,933 shares of the retailer’s stock after purchasing an additional 12,653 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Costco Wholesale were worth $10,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Regent Investment Management LLC increased its holdings in shares of Costco Wholesale by 43.5% in the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock worth $360,000 after buying an additional 450 shares during the period. Beese Fulmer Investment Management Inc. purchased a new position in shares of Costco Wholesale in the second quarter worth about $4,462,000. Raymond James & Associates increased its holdings in shares of Costco Wholesale by 8.5% in the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock worth $113,252,000 after buying an additional 36,675 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Costco Wholesale by 17.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after purchasing an additional 27,026 shares during the period. Finally, Horizon Investments LLC purchased a new position in Costco Wholesale during the 1st quarter valued at about $401,000. 71.27% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:COST traded down $2.41 during trading on Friday, reaching $272.16. The company’s stock had a trading volume of 192,001 shares, compared to its average volume of 1,354,026. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $284.31. The company’s 50 day moving average price is $271.93. The stock has a market cap of $120.23 billion, a PE ratio of 39.85, a PEG ratio of 3.92 and a beta of 0.94.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter last year, the firm earned $1.70 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.

Costco Wholesale declared that its Board of Directors has approved a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In related news, Director Susan L. Decker sold 1,646 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the completion of the transaction, the director now owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James C. Klauer sold 5,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the completion of the transaction, the insider now directly owns 48,310 shares of the company’s stock, valued at approximately $12,344,654.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,136 shares of company stock valued at $7,380,374. 0.21% of the stock is owned by insiders.

A number of research analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Costco Wholesale in a report on Thursday, July 11th. They set a “buy” rating and a $290.00 price target on the stock. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Morgan Stanley boosted their price target on Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, June 3rd. Citigroup reduced their price target on Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Deutsche Bank set a $252.00 price target on Costco Wholesale and gave the company a “hold” rating in a report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $262.73.

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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