Costco Wholesale Co. (NASDAQ:COST) Shares Sold by PFG Advisors

by · The Markets Daily

PFG Advisors cut its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,910 shares of the retailer’s stock after selling 676 shares during the quarter. Costco Wholesale accounts for 0.8% of PFG Advisors’ holdings, making the stock its 24th largest holding. PFG Advisors’ holdings in Costco Wholesale were worth $12,332,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COST. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the first quarter worth $32,000. Financial Connections Group Inc. grew its stake in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale during the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. raised its position in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST stock opened at $894.61 on Wednesday. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The stock’s 50-day moving average price is $886.11 and its 200 day moving average price is $830.26. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $396.61 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COST shares. Barclays upped their target price on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Melius Research started coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. DA Davidson reaffirmed a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 10th. Tigress Financial increased their target price on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Oppenheimer lifted their price target on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $886.74.

Check Out Our Latest Stock Report on Costco Wholesale

Insider Transactions at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares in the company, valued at $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock worth $9,974,973. Company insiders own 0.18% of the company’s stock.

Costco Wholesale 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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