Nadler Financial Group Inc. lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,261 shares of the retailer’s stock after selling 75 shares during the period. Nadler Financial Group Inc.’s holdings in Costco Wholesale were worth $333,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in COST. Horan Capital Advisors LLC. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $26,000. ERTS Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at $30,000. Arbor Wealth Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at $33,000. Thor Advisors LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $35,000. Finally, PRW Wealth Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 71.13% of the company’s stock.
COST has been the subject of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Citigroup set a $27.00 price target on shares of StoneCo and gave the company a “hold” rating in a research note on Friday, May 31st. Stifel Nicolaus raised their price target on shares of Costco Wholesale from $261.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Nomura raised their price target on shares of Costco Wholesale from $235.00 to $256.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets set a $275.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Costco Wholesale presently has an average rating of “Buy” and an average price target of $262.73.
In other news, 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 transaction of $710,389.80. Following the completion of the transaction, the director now directly owns 45,405 shares in the company, valued at $11,561,021.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.39, for a total transaction of $799,170.00. Following the transaction, the chief financial officer now owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock valued at $7,380,374 over the last quarter. Corporate insiders own 0.21% of the company’s stock.
NASDAQ:COST traded up $0.28 during trading hours on Friday, reaching $280.08. The company had a trading volume of 16,078 shares, compared to its average volume of 1,401,721. 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 company has a market capitalization of $123.51 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.94 and a beta of 0.94. The stock has a 50-day moving average price of $268.48. Costco Wholesale Co. has a twelve month low of $189.51 and a twelve month high of $284.31.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. The business had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $1.70 earnings per share. As a group, equities analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current year.
Costco Wholesale declared that its Board of Directors has initiated a share repurchase plan on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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