Triangle Securities Wealth Management Takes $206,000 Position in Costco Wholesale Co. (COST)
Triangle Securities Wealth Management acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 850 shares of the retailer’s stock, valued at approximately $206,000.
A number of other institutional investors have also recently made changes to their positions in COST. Bank of New York Mellon Corp raised its position in Costco Wholesale by 55,048.5% in the 3rd 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 last quarter. Martingale Asset Management L P raised its position in Costco Wholesale by 145.0% in the 3rd 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 last quarter. GSA Capital Partners LLP purchased a new position in Costco Wholesale in the 3rd quarter worth about $284,000. Kentucky Retirement Systems purchased a new position in Costco Wholesale in the 3rd quarter worth about $4,293,000. Finally, Nordea Investment Management AB raised its position in Costco Wholesale by 2.2% in the 3rd 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 last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. Nomura assumed coverage on shares of Costco Wholesale in a research report on Wednesday, March 20th. They set a “neutral” rating and a $230.00 price target for the company. Barclays reaffirmed a “hold” rating and set a $225.00 price target on shares of Costco Wholesale in a research report on Wednesday, January 9th. JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale to $248.00 and gave the company an “overweight” rating in a research report on Friday, March 8th. Deutsche Bank set a $225.00 price target on shares of Costco Wholesale and gave the company a “hold” rating in a research report on Friday, March 8th. Finally, Royal Bank of Canada upped their price target on shares of Costco Wholesale from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $248.00.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.34. The company 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 last year, the firm posted $1.59 earnings per share. On average, sell-side analysts expect that Costco Wholesale Co. will post 7.9 earnings per share for the current year.
In related news, Director Susan L. Decker sold 2,350 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total transaction of $564,000.00. Following the completion of the transaction, the director now directly owns 46,239 shares in the company, valued at approximately $11,097,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 2,049 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,587 shares of company stock valued at $2,004,576. 0.21% of the stock is currently owned by corporate insiders.
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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.
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