Coastal Investment Advisors Inc. Boosts Position in Costco Wholesale Co. (NASDAQ:COST)


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Coastal Investment Advisors Inc. grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,626 shares of the retailer’s stock after buying an additional 602 shares during the period. Coastal Investment Advisors Inc.’s holdings in Costco Wholesale were worth $989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Provident Wealth Management LLC purchased a new position in shares of Costco Wholesale during the third quarter valued at approximately $26,000. Newfound Research LLC purchased a new position in shares of Costco Wholesale during the third quarter valued at approximately $28,000. Horan Capital Advisors LLC. purchased a new position in shares of Costco Wholesale during the third quarter valued at approximately $39,000. Adams Wealth Management purchased a new position in shares of Costco Wholesale during the third quarter valued at approximately $47,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Costco Wholesale during the third quarter valued at approximately $50,000. 67.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:COST traded up $2.75 during midday trading on Wednesday, reaching $366.95. 1,967,213 shares of the company’s stock traded hands, compared to its average volume of 2,637,552. The company has a market cap of $162.54 billion, a price-to-earnings ratio of 37.39, a P/E/G ratio of 4.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.53 and a current ratio of 0.98. Costco Wholesale Co. has a one year low of $271.28 and a one year high of $393.15. The stock has a 50 day moving average of $373.93 and a 200 day moving average of $354.36.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Wednesday, December 9th. The retailer reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.24. The company had revenue of $43.21 billion during the quarter, compared to analysts’ expectations of $42.26 billion. Costco Wholesale had a return on equity of 24.50% and a net margin of 2.50%. Costco Wholesale’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. Sell-side analysts predict that Costco Wholesale Co. will post 9.95 EPS for the current fiscal year.

Several research firms recently weighed in on COST. Credit Suisse Group lifted their price target on Costco Wholesale from $328.00 to $370.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Loop Capital lifted their price target on Costco Wholesale from $415.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, December 3rd. They noted that the move was a valuation call. Morgan Stanley lifted their price target on Costco Wholesale from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, December 14th. BidaskClub upgraded Costco Wholesale from a “sell” rating to a “hold” rating in a research report on Friday, January 1st. Finally, Raymond James lifted their price target on Costco Wholesale from $365.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, November 13th. Twelve research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $386.64.

In other Costco Wholesale news, EVP Russell D. Miller sold 5,000 shares of the company’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $377.24, for a total value of $1,886,200.00. Following the completion of the sale, the executive vice president now owns 1 shares in the company, valued at $377.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Paul G. Moulton sold 9,015 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $366.50, for a total value of $3,303,997.50. Following the completion of the sale, the vice president now owns 23,049 shares of the company’s stock, valued at approximately $8,447,458.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,376 shares of company stock valued at $7,187,423. 0.22% of the stock is owned by company insiders.

Costco Wholesale Profile

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

See Also: Reverse Stock Split

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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