Tdam USA Inc. Sells 1,058 Shares of Costco Wholesale Co. (NASDAQ:COST)

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Tdam USA Inc. lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,539 shares of the retailer’s stock after selling 1,058 shares during the period. Tdam USA Inc.’s holdings in Costco Wholesale were worth $11,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Regent Investment Management LLC increased its holdings in Costco Wholesale by 43.5% in the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock valued at $360,000 after buying an additional 450 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $470,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $4,462,000. Raymond James & Associates grew its position in shares of Costco Wholesale by 8.5% in the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after purchasing an additional 36,675 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Costco Wholesale by 17.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after purchasing an additional 27,026 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Several brokerages have recently issued reports on COST. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Co lifted their target price on shares of Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Loop Capital lifted their target price on shares of Costco Wholesale to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Citigroup lowered their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Evercore ISI restated a “buy” rating on shares of Costco Wholesale in a research report on Sunday. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $263.77.

In other news, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now directly owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total transaction of $799,170.00. Following the completion of the sale, the chief financial officer now directly owns 27,582 shares in the company, valued at $7,347,568.98. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock worth $7,380,374 over the last quarter. 0.21% of the stock is currently owned by company insiders.

NASDAQ:COST traded up $4.95 on Tuesday, hitting $276.26. The stock had a trading volume of 1,296,145 shares, compared to its average volume of 1,782,953. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The firm has a market capitalization of $120.48 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. The stock has a fifty day moving average price of $273.82. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $284.31.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion for the quarter, compared to analyst estimates of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. Costco Wholesale’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.70 EPS. Analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale announced that its board has initiated a share repurchase plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Costco Wholesale 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.

Further Reading: Do stock splits help investors?

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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