Courier Capital LLC Decreases Stock Position in Costco Wholesale Corporation $COST

Courier Capital LLC cut its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,435 shares of the retailer’s stock after selling 27 shares during the quarter. Courier Capital LLC’s holdings in Costco Wholesale were worth $8,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bulwark Capital Corp purchased a new position in shares of Costco Wholesale in the second quarter valued at $25,000. Anderson Financial Strategies LLC boosted its stake in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares during the period. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after purchasing an additional 39 shares during the period. Frazier Financial Advisors LLC boosted its stake in shares of Costco Wholesale by 72.0% in the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after purchasing an additional 18 shares during the period. Finally, eCIO Inc. purchased a new position in shares of Costco Wholesale in the first quarter valued at $48,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.2%

Costco Wholesale stock opened at $946.51 on Wednesday. The firm’s 50-day moving average is $951.71 and its 200-day moving average is $971.87. 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 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a market cap of $419.47 billion, a P/E ratio of 51.98, a PEG ratio of 5.67 and a beta of 0.98.

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

Insider Transactions at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The stock was 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 directly 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. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COST shares. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Wolfe Research started coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They set a “peer perform” rating on the stock. Evercore ISI reduced their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Truist Financial reduced their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Twenty analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $1,068.04.

About Costco Wholesale

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.