Hartford Investment Management Co. Buys 340 Shares of Costco Wholesale Co. (NASDAQ:COST)

Hartford Investment Management Co. lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,600 shares of the retailer’s stock after purchasing an additional 340 shares during the period. Hartford Investment Management Co.’s holdings in Costco Wholesale were worth $14,164,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BKD Wealth Advisors LLC raised its stake in Costco Wholesale by 2.6% during the 2nd quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock worth $405,000 after buying an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Costco Wholesale by 0.3% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 14,527 shares of the retailer’s stock worth $3,839,000 after buying an additional 40 shares during the period. Kistler Tiffany Companies LLC raised its stake in Costco Wholesale by 1.5% during the 1st quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after buying an additional 41 shares during the period. Canton Hathaway LLC raised its stake in Costco Wholesale by 41.0% during the 2nd quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after buying an additional 41 shares during the period. Finally, Nachman Norwood & Parrott Inc raised its stake in Costco Wholesale by 4.1% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock worth $269,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

NASDAQ:COST opened at $267.14 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $272.18. The firm has a market capitalization of $119.84 billion, a P/E ratio of 39.11, a P/E/G ratio of 3.82 and a beta of 0.95. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $284.31.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.03% and a net margin of 2.41%. Costco Wholesale’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.70 earnings per share. Research analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale announced that its board has initiated a share repurchase plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes 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 board believes its shares are undervalued.

Several analysts have issued reports on the company. BMO Capital Markets set a $275.00 price target on Costco Wholesale and gave the company a “buy” rating in a research note on Friday, May 31st. Deutsche Bank set a $252.00 price target on Costco Wholesale and gave the company a “hold” rating in a research note on Monday, July 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Robert W. Baird lifted their price target on Costco Wholesale from $270.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Co lifted their price target on Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $262.73.

In related news, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 2,790 shares of Costco Wholesale stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the sale, the director now directly owns 45,405 shares in the company, valued at approximately $11,561,021.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by company insiders.

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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