DekaBank Deutsche Girozentrale Increases Position in Costco Wholesale Co. (NASDAQ:COST)

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DekaBank Deutsche Girozentrale raised its position in Costco Wholesale Co. (NASDAQ:COST) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 397,713 shares of the retailer’s stock after purchasing an additional 47,160 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Costco Wholesale were worth $105,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hayden Royal LLC purchased a new stake in Costco Wholesale in the second quarter valued at approximately $212,000. Sunbelt Securities Inc. raised its position in Costco Wholesale by 5.0% in the second quarter. Sunbelt Securities Inc. now owns 2,126 shares of the retailer’s stock valued at $562,000 after purchasing an additional 102 shares during the period. Sandy Spring Bank raised its position in Costco Wholesale by 10.7% in the second quarter. Sandy Spring Bank now owns 13,250 shares of the retailer’s stock valued at $3,501,000 after purchasing an additional 1,286 shares during the period. Advisory Services Network LLC increased its position in shares of Costco Wholesale by 2.0% during the second quarter. Advisory Services Network LLC now owns 19,369 shares of the retailer’s stock worth $5,119,000 after acquiring an additional 387 shares during the period. Finally, Coastal Investment Advisors Inc. increased its position in shares of Costco Wholesale by 11.8% during the second quarter. Coastal Investment Advisors Inc. now owns 3,099 shares of the retailer’s stock worth $817,000 after acquiring an additional 326 shares during the period. 71.20% of the stock is currently owned by institutional investors.

In other Costco Wholesale news, VP James P. Murphy sold 10,000 shares of Costco Wholesale stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total value of $2,658,500.00. Following the transaction, the vice president now owns 45,100 shares in the company, valued at approximately $11,989,835. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James C. Klauer sold 5,000 shares of Costco Wholesale stock in a transaction on Friday, June 7th. The shares were sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the completion of the transaction, the insider now owns 48,310 shares in the company, valued at approximately $12,344,654.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by company insiders.

Shares of COST opened at $276.26 on Wednesday. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 3.84 and a beta of 0.95. The company has a fifty day moving average of $274.00. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $284.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion for the quarter, compared to analyst estimates of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. Costco Wholesale’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.70 EPS. Equities research analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale declared that its Board of Directors has approved a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

A number of analysts have recently weighed in on the company. BMO Capital Markets set a $275.00 price objective on Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, May 31st. Deutsche Bank set a $252.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a research report on Monday, July 15th. Wells Fargo & Co upped their price objective on Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Citigroup lowered their target price on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Goldman Sachs Group started coverage on shares of Costco Wholesale in a research note on Thursday, July 11th. They set a “buy” rating and a $290.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $263.77.

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

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