Bridges Investment Management Inc. reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,390 shares of the retailer’s stock after selling 2,220 shares during the period. Bridges Investment Management Inc.’s holdings in Costco Wholesale were worth $5,406,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of COST. Cordasco Financial Network bought a new stake in Costco Wholesale during the fourth quarter worth $25,000. Sageworth Trust Co bought a new position in shares of Costco Wholesale in the 4th quarter valued at $29,000. Tobias Financial Advisors Inc. bought a new position in shares of Costco Wholesale in the 4th quarter valued at $29,000. PSI Advisors LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at $40,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 70.23% of the company’s stock.
A number of research analysts have recently commented on the company. Robert W. Baird increased their price target on Costco Wholesale from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Barclays restated a “neutral” rating on shares of Costco Wholesale in a report on Sunday, March 8th. Credit Suisse Group initiated coverage on Costco Wholesale in a report on Thursday, February 13th. They issued a “neutral” rating and a $328.00 price objective for the company. BMO Capital Markets increased their price objective on Costco Wholesale from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of Costco Wholesale in a report on Monday, March 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $315.42.
Shares of Costco Wholesale stock opened at $280.86 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $306.29 and a two-hundred day moving average price of $299.64. Costco Wholesale Co. has a 1-year low of $233.05 and a 1-year high of $325.26. The company has a market cap of $125.82 billion, a P/E ratio of 32.96, a PEG ratio of 3.90 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, March 5th. The retailer reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.04. The firm had revenue of $39.10 billion during the quarter, compared to the consensus estimate of $38.26 billion. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.39%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $2.01 EPS. Equities research analysts forecast that Costco Wholesale Co. will post 8.72 EPS for the current fiscal year.
In other news, CFO Richard A. Galanti sold 1,448 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $306.51, for a total transaction of $443,826.48. Following the transaction, the chief financial officer now owns 23,967 shares of the company’s stock, valued at approximately $7,346,125.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 3,850 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $300.41, for a total transaction of $1,156,578.50. Following the transaction, the director now directly owns 34,582 shares in the company, valued at approximately $10,388,778.62. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
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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