Cornerstone Wealth Group LLC Boosts Holdings in Costco Wholesale Corporation $COST

Cornerstone Wealth Group LLC increased its position in Costco Wholesale Corporation (NASDAQ:COST) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,999 shares of the retailer’s stock after buying an additional 153 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Costco Wholesale were worth $5,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in COST. Bulwark Capital Corp purchased a new position in shares of Costco Wholesale in the second quarter worth $25,000. Anderson Financial Strategies LLC increased 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 worth $38,000 after buying an additional 36 shares during the period. Financial Connections Group Inc. increased 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 worth $42,000 after buying an additional 39 shares during the period. eCIO Inc. purchased a new position in shares of Costco Wholesale in the first quarter worth $48,000. Finally, Aspect Partners LLC increased its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after buying an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COST. Weiss Ratings reissued a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Daiwa Capital Markets reduced their price objective 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. Oppenheimer reissued an “outperform” rating and set a $1,130.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 24th. Nineteen 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, the company currently has an average rating of “Moderate Buy” and an average price target of $1,066.23.

Insider Transactions at Costco Wholesale

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

Costco Wholesale Stock Up 0.6%

NASDAQ:COST opened at $935.56 on Tuesday. The firm’s 50-day moving average price is $951.65 and its 200-day moving average price is $972.04. The company has a market capitalization of $414.62 billion, a PE ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23.

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

Costco Wholesale Company 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.