Brasada Capital Management LP Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Brasada Capital Management LP reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,198 shares of the retailer’s stock after selling 100 shares during the quarter. Brasada Capital Management LP’s holdings in Costco Wholesale were worth $2,954,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Regent Investment Management LLC lifted its stake in Costco Wholesale by 43.5% in the 1st quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock worth $360,000 after purchasing an additional 450 shares in the last quarter. Bernicke Wealth Management Ltd. raised its position in shares of Costco Wholesale by 3.3% during the 4th quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after buying an additional 127 shares in the last quarter. Ruggie Capital Group purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at about $61,000. Walter & Keenan Financial Consulting Co. MI ADV raised its position in shares of Costco Wholesale by 5.6% during the 4th quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 1,900 shares of the retailer’s stock valued at $387,000 after buying an additional 100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Costco Wholesale by 14.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 155,563 shares of the retailer’s stock valued at $31,693,000 after buying an additional 19,624 shares in the last quarter. 71.08% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Susan L. Decker sold 2,790 shares of the business’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 value of $710,389.80. Following the sale, the director now directly owns 45,405 shares of the company’s stock, valued at approximately $11,561,021.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roland Michael Vachris sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $267.25, for a total transaction of $988,825.00. Following the completion of the sale, the vice president now directly owns 13,578 shares in the company, valued at $3,628,720.50. The disclosure for this sale can be found here. Insiders sold a total of 26,490 shares of company stock worth $6,938,835 over the last three months. Insiders own 0.21% of the company’s stock.

A number of research firms recently weighed in on COST. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday. Loop Capital increased their price objective on shares of Costco Wholesale to $290.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 target price on the stock in a research note on Tuesday, June 11th. BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $265.00 price objective (up from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $253.27.

COST stock traded down $0.71 during midday trading on Monday, hitting $263.55. 1,706,363 shares of the stock traded hands, compared to its average volume of 1,947,229. The company’s fifty day moving average is $252.87. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $268.94. The firm has a market capitalization of $116.82 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 3.71 and a beta of 0.94. 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 earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The business 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%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 earnings per share. Sell-side analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale announced that its Board of Directors has authorized a stock repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the retailer to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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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