Beech Hill Advisors Inc. decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 12.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,350 shares of the retailer’s stock after selling 200 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Costco Wholesale were worth $327,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Costco Wholesale by 55,048.5% in the third quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock worth $1,292,998,000 after buying an additional 5,494,946 shares during the period. Martingale Asset Management L P raised its stake in shares of Costco Wholesale by 145.0% in the third quarter. Martingale Asset Management L P now owns 31,994 shares of the retailer’s stock worth $7,516,000 after buying an additional 18,935 shares during the period. GSA Capital Partners LLP bought a new position in shares of Costco Wholesale in the third quarter worth about $284,000. Kentucky Retirement Systems bought a new position in shares of Costco Wholesale in the third quarter worth about $4,293,000. Finally, Nordea Investment Management AB raised its stake in shares of Costco Wholesale by 2.2% in the third quarter. Nordea Investment Management AB now owns 23,808 shares of the retailer’s stock worth $5,591,000 after buying an additional 517 shares during the period. 72.22% of the stock is currently owned by institutional investors.
COST has been the subject of several research analyst reports. BidaskClub upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Citigroup increased their target price on Costco Wholesale from $242.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Loop Capital increased their target price on Costco Wholesale from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. UBS Group increased their target price on Costco Wholesale to $280.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Nomura increased their target price on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $248.00.
NASDAQ COST opened at $245.81 on Friday. The company has a market cap of $108.13 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.46. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $247.25.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.34. The business had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter in the prior year, the business earned $1.59 EPS. As a group, research analysts forecast that Costco Wholesale Co. will post 7.9 EPS for the current fiscal year.
In other Costco Wholesale news, Director Susan L. Decker sold 2,049 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the transaction, the director now owns 48,589 shares in the company, valued at approximately $11,272,648. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Meisenbach purchased 3,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were purchased at an average price of $242.65 per share, with a total value of $727,950.00. Following the acquisition, the director now directly owns 12,833 shares in the company, valued at $3,113,927.45. The disclosure for this purchase can be found here. Insiders have sold a total of 8,587 shares of company stock valued at $2,004,576 in the last 90 days. 0.21% of the stock is currently owned by company insiders.
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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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