Nikulski Financial Inc. trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,195 shares of the retailer’s stock after selling 630 shares during the period. Costco Wholesale makes up 1.9% of Nikulski Financial Inc.’s portfolio, making the stock its 18th biggest position. Nikulski Financial Inc.’s holdings in Costco Wholesale were worth $2,307,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Regent Investment Management LLC lifted its position in shares of Costco Wholesale by 43.5% in the 1st 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 last quarter. Beese Fulmer Investment Management Inc. bought a new stake in shares of Costco Wholesale during the 2nd quarter worth about $4,462,000. Raymond James & Associates raised its position in shares of Costco Wholesale by 8.5% during the 1st 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of 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 worth $44,218,000 after buying an additional 27,026 shares in the last quarter. Finally, Horizon Investments LLC bought a new stake in shares of Costco Wholesale during the 1st quarter worth about $401,000. 71.27% of the stock is owned by institutional investors and hedge funds.
COST has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a research report on Tuesday, June 11th. Wells Fargo & Co boosted their price target on shares of Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on shares of Costco Wholesale in a research report on Thursday, July 11th. They set a “buy” rating and a $290.00 price target on the stock. Finally, Oppenheimer lifted their price objective on shares of Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $262.73.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. The business had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale declared that its board has authorized a stock repurchase program on Friday, April 26th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the retailer to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Patrick J. Callans sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $252.15, for a total value of $504,300.00. Following the transaction, the vice president now directly owns 66,479 shares of the company’s stock, valued at $16,762,679.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the transaction, the director now directly owns 41,803 shares in the company, valued at $11,213,654.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is currently owned by insiders.
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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