Nordea Investment Management AB increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 130.3% during the 4th quarter, HoldingsChannel reports. The fund owned 54,841 shares of the retailer’s stock after purchasing an additional 31,033 shares during the quarter. Nordea Investment Management AB’s holdings in Costco Wholesale were worth $11,171,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bigelow Investment Advisors LLC raised its stake in Costco Wholesale by 3.3% in the fourth quarter. Bigelow Investment Advisors LLC now owns 1,575 shares of the retailer’s stock valued at $321,000 after buying an additional 50 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Costco Wholesale by 2.1% in the third quarter. Cornerstone Advisors Inc. now owns 2,557 shares of the retailer’s stock valued at $601,000 after buying an additional 53 shares in the last quarter. Cigna Investments Inc. New raised its stake in Costco Wholesale by 0.4% in the fourth quarter. Cigna Investments Inc. New now owns 12,916 shares of the retailer’s stock valued at $2,630,000 after buying an additional 55 shares in the last quarter. Truewealth LLC raised its stake in Costco Wholesale by 2.6% in the fourth quarter. Truewealth LLC now owns 2,216 shares of the retailer’s stock valued at $451,000 after buying an additional 56 shares in the last quarter. Finally, Patten Group Inc. raised its stake in Costco Wholesale by 38.0% in the fourth quarter. Patten Group Inc. now owns 207 shares of the retailer’s stock valued at $42,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.
Shares of COST stock opened at $241.95 on Monday. The stock has a market cap of $106.12 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 3.43 and a beta of 0.95. Costco Wholesale Co. has a 1 year low of $187.01 and a 1 year high of $247.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.96.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.34. The company had revenue of $35.40 billion for the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same period in the previous year, the business posted $1.59 EPS. Analysts predict that Costco Wholesale Co. will post 7.9 earnings per share for the current year.
In related news, Director Susan L. Decker sold 2,049 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the transaction, the director now owns 48,589 shares of the company’s stock, valued at $11,272,648. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Meisenbach purchased 3,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were bought at an average cost of $242.65 per share, for a total transaction of $727,950.00. Following the acquisition, the director now owns 12,833 shares of the company’s stock, valued at $3,113,927.45. The disclosure for this purchase can be found here. In the last three months, insiders have sold 8,587 shares of company stock worth $2,004,576. Corporate insiders own 0.21% of the company’s stock.
COST has been the topic of a number of analyst reports. Bank of America set a $255.00 price target on Costco Wholesale and gave the company a “buy” rating in a research note on Friday, March 8th. TheStreet cut Costco Wholesale from an “a” rating to a “c” rating in a research note on Wednesday, January 16th. Raymond James raised their price target on Costco Wholesale from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Evercore ISI assumed coverage on Costco Wholesale in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, Morgan Stanley set a $220.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a report on Friday, March 8th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $246.57.
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About Costco Wholesale
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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