Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,376 shares of the retailer’s stock after selling 2,617 shares during the period. Costco Wholesale comprises 1.9% of Private Advisory Group LLC’s investment portfolio, making the stock its 16th biggest position. Private Advisory Group LLC’s holdings in Costco Wholesale were worth $4,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COST. FMR LLC raised its position in shares of Costco Wholesale by 5.0% during the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock worth $2,645,326,000 after acquiring an additional 518,843 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Costco Wholesale by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock worth $1,227,757,000 after acquiring an additional 386,144 shares in the last quarter. Norges Bank acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $868,633,000. Janus Henderson Group PLC raised its position in shares of Costco Wholesale by 4.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,972,809 shares of the retailer’s stock worth $719,849,000 after acquiring an additional 137,549 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Costco Wholesale by 11.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,409,355 shares of the retailer’s stock worth $583,401,000 after acquiring an additional 249,464 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:COST traded down $7.33 during mid-day trading on Monday, reaching $265.17. 1,425,297 shares of the stock were exchanged, compared to its average volume of 1,530,776. The company has a 50 day moving average of $272.18. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $284.31. The firm has a market capitalization of $119.84 billion, a PE ratio of 38.82, a P/E/G ratio of 3.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same period last year, the business posted $1.70 EPS. The company’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect 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 repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Costco Wholesale news, VP Patrick J. Callans sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 7th. The stock was 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 in the company, valued at approximately $16,762,679.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction that occurred on 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 in the company, valued at $11,213,654.75. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock worth $7,380,374 over the last quarter. Company insiders own 0.21% of the company’s stock.

Several brokerages have recently weighed in on COST. Oppenheimer raised their target price on Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday, July 10th. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. Raymond James raised their target price on Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Gordon Haskett lowered Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price on the stock. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Robert W. Baird raised their price target on Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $262.73.

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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