Costco Wholesale Co. (COST) Shares Sold by AMI Asset Management Corp
AMI Asset Management Corp reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,493 shares of the retailer’s stock after selling 38,930 shares during the period. Costco Wholesale accounts for approximately 1.9% of AMI Asset Management Corp’s holdings, making the stock its 25th biggest position. AMI Asset Management Corp’s holdings in Costco Wholesale were worth $28,067,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Cambridge Trust Co. lifted its stake in shares of Costco Wholesale by 11.2% in the 3rd quarter. Cambridge Trust Co. now owns 2,337 shares of the retailer’s stock worth $549,000 after acquiring an additional 235 shares during the period. Duncker Streett & Co. Inc. lifted its stake in shares of Costco Wholesale by 10.0% in the 3rd quarter. Duncker Streett & Co. Inc. now owns 3,237 shares of the retailer’s stock worth $760,000 after acquiring an additional 295 shares during the period. Calamos Advisors LLC lifted its stake in shares of Costco Wholesale by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 177,405 shares of the retailer’s stock worth $41,669,000 after acquiring an additional 3,630 shares during the period. UMB Bank N A MO lifted its stake in shares of Costco Wholesale by 2.0% in the 3rd quarter. UMB Bank N A MO now owns 150,047 shares of the retailer’s stock worth $35,244,000 after acquiring an additional 2,918 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of Costco Wholesale by 16.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,105 shares of the retailer’s stock worth $5,427,000 after acquiring an additional 3,286 shares during the period. 71.50% of the stock is owned by institutional investors.
In other news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total transaction of $699,420.00. Following the sale, the director now owns 8,654 shares in the company, valued at $2,017,593.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Roland Michael Vachris sold 6,600 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the sale, the vice president now owns 17,282 shares in the company, valued at approximately $3,903,658.16. The disclosure for this sale can be found here. Insiders have sold 15,600 shares of company stock worth $3,553,608 in the last 90 days. 0.58% of the stock is owned by company insiders.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The business had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Costco Wholesale Co. will post 7.7 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Costco Wholesale from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 21st. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Tuesday, September 11th. Royal Bank of Canada reduced their price target on shares of Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating for the company in a research note on Friday, October 5th. Argus reaffirmed a “buy” rating and issued a $255.00 price target on shares of Costco Wholesale in a research note on Thursday, October 11th. Finally, BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $237.94.
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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