Evercore Wealth Management LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,329 shares of the retailer’s stock after acquiring an additional 1,897 shares during the quarter. Evercore Wealth Management LLC’s holdings in Costco Wholesale were worth $34,705,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in COST. Krane Funds Advisors LLC bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $26,000. Massey Quick Simon & CO. LLC bought a new stake in Costco Wholesale during the second quarter worth about $27,000. Thor Advisors LLC bought a new stake in Costco Wholesale during the first quarter worth about $35,000. JNBA Financial Advisors boosted its stake 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 acquiring an additional 126 shares in the last quarter. Finally, Canton Hathaway LLC boosted its stake in Costco Wholesale by 41.0% during the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.
Shares of NASDAQ COST opened at $291.90 on Friday. The firm’s 50 day moving average price is $282.20 and its 200-day moving average price is $257.24. The company has a market cap of $127.49 billion, a PE ratio of 36.83, a P/E/G ratio of 3.84 and a beta of 0.93. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $307.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98.
In other news, VP James P. Murphy sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the completion of the transaction, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total transaction of $799,170.00. Following the transaction, the chief financial officer now directly owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,346 shares of company stock worth $4,888,035. Insiders own 0.21% of the company’s stock.
COST has been the topic of several research reports. Royal Bank of Canada set a $321.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Citigroup dropped their price objective on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. Finally, Oppenheimer lowered shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $295.00 to $300.00 in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $283.72.
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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