Acorn Creek Capital LLC Acquires 26 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Acorn Creek Capital LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 5.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 465 shares of the retailer’s stock after purchasing an additional 26 shares during the quarter. Acorn Creek Capital LLC’s holdings in Costco Wholesale were worth $412,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COST. Wulff Hansen & CO. increased its position in shares of Costco Wholesale by 99,208.6% during the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after buying an additional 1,473,248 shares during the period. Global Assets Advisory LLC acquired a new stake in Costco Wholesale in the first quarter worth $510,353,000. Assenagon Asset Management S.A. grew its holdings in Costco Wholesale by 287.3% in the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares during the period. Strategic Financial Concepts LLC grew its holdings in Costco Wholesale by 51,747.5% in the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after purchasing an additional 473,702 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on COST. BMO Capital Markets restated an “outperform” rating and issued a $980.00 price target (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Melius Research assumed coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Loop Capital lifted their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Roth Mkm raised their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $886.74.

Check Out Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $894.61 on Wednesday. The company has a 50 day moving average of $886.11 and a 200 day moving average of $830.26. The stock has a market cap of $396.61 billion, a P/E ratio of 55.43, a P/E/G ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the company earned $4.86 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,224 shares of company stock valued at $9,974,973 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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