RKL Wealth Management LLC Reduces Stake in Costco Wholesale Co. (COST)

RKL Wealth Management LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,560 shares of the retailer’s stock after selling 4,874 shares during the period. Costco Wholesale comprises 1.3% of RKL Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. RKL Wealth Management LLC’s holdings in Costco Wholesale were worth $4,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COST. Ngam Advisors L.P. increased its holdings in shares of Costco Wholesale by 0.8% in the 1st quarter. Ngam Advisors L.P. now owns 70,233 shares of the retailer’s stock valued at $11,777,000 after purchasing an additional 584 shares during the period. Cleararc Capital Inc. grew its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 10,740 shares of the retailer’s stock valued at $1,801,000 after buying an additional 97 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $246,000. Shelton Capital Management grew its stake in shares of Costco Wholesale by 74.3% in the 1st quarter. Shelton Capital Management now owns 67,956 shares of the retailer’s stock valued at $11,396,000 after buying an additional 28,966 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of Costco Wholesale by 48.1% in the 1st quarter. Edgestream Partners L.P. now owns 2,304 shares of the retailer’s stock valued at $386,000 after buying an additional 748 shares in the last quarter. Institutional investors own 70.87% of the company’s stock.

In other news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $187.23, for a total value of $561,690.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,620,288.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard A. Galanti sold 5,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at $6,647,369.68. The disclosure for this sale can be found here. Insiders have sold 59,842 shares of company stock valued at $10,744,218 in the last ninety days. Company insiders own 0.74% of the company’s stock.

Shares of Costco Wholesale Co. (COST) opened at $187.75 on Friday. The stock has a market capitalization of $81,870.00, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 3.19 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $195.35.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. The firm had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. equities analysts forecast that Costco Wholesale Co. will post 6.56 EPS for the current fiscal year.

Several equities research analysts recently commented on the company. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $173.00 price target on shares of Costco Wholesale in a research note on Monday, October 9th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale in a research note on Monday, December 4th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, September 19th. Finally, Bank of America reissued a “buy” rating and issued a $192.00 price target on shares of Costco Wholesale in a research note on Monday, October 9th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Costco Wholesale presently has an average rating of “Buy” and a consensus target price of $187.83.

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Costco Wholesale Profile

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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

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