Argus Investors Counsel Inc. increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 92.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,850 shares of the retailer’s stock after buying an additional 17,683 shares during the period. Costco Wholesale accounts for 2.3% of Argus Investors Counsel Inc.’s holdings, making the stock its 5th largest position. Argus Investors Counsel Inc.’s holdings in Costco Wholesale were worth $9,738,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BKD Wealth Advisors LLC increased its holdings in shares of Costco Wholesale by 2.6% during the second quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock worth $405,000 after buying an additional 39 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in shares of Costco Wholesale by 1.5% in the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after purchasing an additional 41 shares during the last quarter. Nachman Norwood & Parrott Inc grew its stake in shares of Costco Wholesale by 4.1% in the first quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock worth $269,000 after purchasing an additional 44 shares during the last quarter. Nichols & Pratt Advisers LLP MA grew its stake in shares of Costco Wholesale by 0.9% in the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock worth $1,215,000 after purchasing an additional 44 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Costco Wholesale by 0.4% in the second quarter. Private Trust Co. NA now owns 11,990 shares of the retailer’s stock worth $3,168,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.
Shares of COST stock traded down $0.07 on Tuesday, reaching $280.10. 830,138 shares of the company were exchanged, compared to its average volume of 1,893,937. The stock has a market capitalization of $123.22 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 3.95 and a beta of 0.94. The firm has a 50-day simple moving average of $267.17. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a one year low of $189.51 and a one year high of $284.31.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion for 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 revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. Equities research analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its board has initiated a share buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Susan L. Decker sold 2,790 shares of the 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 transaction, the director now owns 45,405 shares of the company’s stock, valued at approximately $11,561,021.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $252.15, for a total transaction of $504,300.00. Following the transaction, the vice president now directly owns 66,479 shares in the company, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock worth $7,380,374 in the last three months. Insiders own 0.21% of the company’s stock.
Several analysts recently weighed in on the stock. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. Raymond James reduced their price objective on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Gordon Haskett cut shares of Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 price objective on the stock. in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Deutsche Bank assumed coverage on shares of Target in a research note on Monday, July 15th. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, Citigroup set a $27.00 price objective on shares of StoneCo and gave the stock a “hold” rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $262.73.
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.
Featured Story: How Do I Invest in Dividend Stocks
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.