Howard Capital Management Buys Shares of 64,980 Costco Wholesale Co. (NASDAQ:COST)

Howard Capital Management bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 64,980 shares of the retailer’s stock, valued at approximately $17,172,000. Costco Wholesale accounts for 2.3% of Howard Capital Management’s holdings, making the stock its 13th largest position.

Several other large investors also recently modified their holdings of the business. Regent Investment Management LLC lifted its stake 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 valued at $360,000 after purchasing an additional 450 shares during the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $4,462,000. Raymond James & Associates lifted its stake in shares of Costco Wholesale by 8.5% in the 1st quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after purchasing an additional 36,675 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Costco Wholesale by 17.4% in 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 last quarter. Finally, Horizon Investments LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $401,000. 71.27% of the stock is owned by institutional investors.

Several research analysts recently commented on the stock. Gordon Haskett downgraded shares of Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price on the stock. in a report on Wednesday, May 29th. They noted that the move was a valuation call. Robert W. Baird lifted their target price on shares of Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $265.00 target price (up previously from $250.00) on shares of Costco Wholesale in a report on Tuesday, April 9th. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Finally, BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $262.73.

In related news, insider James C. Klauer sold 5,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the sale, the insider now owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Patrick J. Callans sold 2,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the completion of the sale, the vice president now directly owns 66,479 shares in the company, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,136 shares of company stock worth $7,380,374. Insiders own 0.21% of the company’s stock.

NASDAQ:COST opened at $272.50 on Friday. The stock’s 50-day moving average is $272.18. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $284.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The company has a market cap of $121.22 billion, a P/E ratio of 39.90, a price-to-earnings-growth ratio of 3.86 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the previous year, the firm posted $1.70 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.

Costco Wholesale announced that its board has authorized a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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