Private Wealth Asset Management LLC Sells 11 Shares of Costco Wholesale Corporation $COST

Private Wealth Asset Management LLC reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 585 shares of the retailer’s stock after selling 11 shares during the period. Private Wealth Asset Management LLC’s holdings in Costco Wholesale were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COST. Brighton Jones LLC grew its position in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after acquiring an additional 130 shares during the last quarter. GAMMA Investing LLC grew its position in Costco Wholesale by 12.6% during the first quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer’s stock valued at $8,160,000 after acquiring an additional 966 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Costco Wholesale by 7.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,961 shares of the retailer’s stock valued at $139,936,000 after acquiring an additional 10,639 shares during the last quarter. Finally, Precision Wealth Strategies LLC grew its position in Costco Wholesale by 14.2% during the first quarter. Precision Wealth Strategies LLC now owns 3,199 shares of the retailer’s stock valued at $3,026,000 after acquiring an additional 398 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Daiwa Capital Markets reduced their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. BTIG Research initiated coverage on shares of Costco Wholesale in a report on Tuesday. They issued a “buy” rating and a $1,115.00 target price on the stock. Morgan Stanley cut their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Twenty investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,068.04.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 1.2%

Shares of Costco Wholesale stock opened at $946.51 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The stock has a market capitalization of $419.47 billion, a price-to-earnings ratio of 51.98, a P/E/G ratio of 5.67 and a beta of 0.98. The company’s 50 day moving average price is $951.71 and its 200-day moving average price is $971.87.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $5.15 earnings per share. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.