Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Carnegie Investment Counsel

by · The Cerbat Gem

Carnegie Investment Counsel lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,521 shares of the retailer’s stock after selling 117 shares during the quarter. Costco Wholesale accounts for 0.9% of Carnegie Investment Counsel’s investment portfolio, making the stock its 24th biggest position. Carnegie Investment Counsel’s holdings in Costco Wholesale were worth $31,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Strong Tower Advisory Services increased its position in shares of Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after acquiring an additional 137 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in shares of Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after buying an additional 932 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Costco Wholesale by 52.1% in the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after acquiring an additional 2,620 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after acquiring an additional 656 shares during the last quarter. Finally, Parcion Private Wealth LLC grew its holdings in Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock worth $4,757,000 after acquiring an additional 1,319 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $889.03 on Friday. The firm has a market capitalization of $394.14 billion, a PE ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company’s 50 day simple moving average is $882.80 and its 200 day simple moving average is $827.34.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its quarterly earnings data 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 return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the previous year, the business earned $4.86 EPS. The company’s quarterly revenue 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 fiscal year.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the transaction, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,674 shares of company stock valued at $5,831,324. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Stifel Nicolaus upped their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen upped their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $886.74.

Get Our Latest Stock Analysis on COST

About Costco Wholesale

(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.

Further Reading

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