Costco Wholesale Co. (NASDAQ:COST) Holdings Reduced by Executive Wealth Management LLC

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Executive Wealth Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,955 shares of the retailer’s stock after selling 84 shares during the period. Executive Wealth Management LLC’s holdings in Costco Wholesale were worth $1,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Horan Capital Advisors LLC. bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $26,000. Canton Hathaway LLC boosted its holdings in shares of Costco Wholesale by 41.0% in the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after acquiring an additional 41 shares in the last quarter. Thor Advisors LLC bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $35,000. C J Advisory Inc bought a new stake in Costco Wholesale during the first quarter worth approximately $36,000. Finally, JNBA Financial Advisors boosted its holdings in Costco Wholesale by 484.6% during the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Shares of NASDAQ:COST opened at $276.26 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The stock has a market cap of $120.48 billion, a P/E ratio of 40.45, a PEG ratio of 3.84 and a beta of 0.95. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The company has a 50 day moving average price of $274.00.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The business had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. As a group, sell-side analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current year.

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

A number of brokerages recently weighed in on COST. Robert W. Baird raised their target price on shares of Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley raised their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Raymond James raised their target price on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Co raised their target price on shares of Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. They noted that the move was a valuation call. Finally, Citigroup reduced their target price on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Costco Wholesale has an average rating of “Buy” and a consensus target price of $263.77.

In related news, insider James C. Klauer sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the completion of the sale, the insider now owns 48,310 shares in the company, valued at approximately $12,344,654.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 2,790 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $254.62, for a total transaction of $710,389.80. Following the completion of the sale, the director now owns 45,405 shares of the company’s stock, valued at approximately $11,561,021.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,136 shares of company stock valued at $7,380,374. 0.21% of the stock is owned by insiders.

About Costco Wholesale

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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