Costco Wholesale Co. (NASDAQ:COST) Shares Bought by Wedmont Private Capital

Wedmont Private Capital grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,152 shares of the retailer’s stock after buying an additional 429 shares during the period. Wedmont Private Capital’s holdings in Costco Wholesale were worth $4,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the first quarter worth about $32,000. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the period. Vima LLC purchased a new stake in Costco Wholesale in the fourth quarter valued at approximately $34,000. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $48,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $909.10 on Thursday. 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 firm has a market capitalization of $403.04 billion, a PE ratio of 56.33, a P/E/G ratio of 5.34 and a beta of 0.80. The firm’s 50-day simple moving average is $878.18 and its 200 day simple moving average is $824.51. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.86 EPS. On average, equities research analysts predict that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the 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 transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,174 shares of company stock worth $7,097,624 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COST has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, September 27th. 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, October 3rd. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. DA Davidson increased their price objective on Costco Wholesale from $780.00 to $880.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.04.

About Costco Wholesale

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.