First Trust Advisors LP Trims Position in Costco Wholesale Co. (NASDAQ:COST)

First Trust Advisors LP trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,893 shares of the retailer’s stock after selling 18,756 shares during the quarter. First Trust Advisors LP owned approximately 0.05% of Costco Wholesale worth $56,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kistler Tiffany Companies LLC raised its stake in Costco Wholesale by 1.5% during the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock valued at $671,000 after buying an additional 41 shares during the last quarter. Nachman Norwood & Parrott Inc increased its holdings in shares of Costco Wholesale by 4.1% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock worth $269,000 after purchasing an additional 44 shares in the last quarter. Nichols & Pratt Advisers LLP MA increased its holdings in shares of Costco Wholesale by 0.9% in the 1st quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock worth $1,215,000 after purchasing an additional 44 shares in the last quarter. Intl Fcstone Inc. increased its holdings in shares of Costco Wholesale by 3.7% in the 1st quarter. Intl Fcstone Inc. now owns 1,302 shares of the retailer’s stock worth $315,000 after purchasing an additional 47 shares in the last quarter. Finally, Community Bank & Trust Waco Texas increased its holdings in shares of Costco Wholesale by 3.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 1,433 shares of the retailer’s stock worth $347,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.

In related news, insider James C. Klauer sold 5,000 shares of the business’s stock in a transaction 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 directly owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James P. Murphy sold 10,000 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,136 shares of company stock valued at $7,380,374. Corporate insiders own 0.21% of the company’s stock.

Several brokerages recently commented on COST. Loop Capital lifted their price objective on Costco Wholesale to $300.00 and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Citigroup set a $27.00 price objective on StoneCo and gave the stock a “hold” rating in a report on Friday, May 31st. Robert W. Baird cut their price objective on Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley lowered Meili from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $14.00 to $4.20 in a report on Monday, June 3rd. Finally, Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $259.39.

Costco Wholesale stock traded up $2.90 during midday trading on Friday, reaching $279.44. The company had a trading volume of 2,046,231 shares, compared to its average volume of 1,493,433. The company has a market capitalization of $122.89 billion, a P/E ratio of 40.91, a P/E/G ratio of 3.88 and a beta of 0.94. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $280.00. The business has a fifty day moving average of $258.90. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, topping 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 company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 earnings per share. On average, research analysts forecast that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.

Costco Wholesale announced that its Board of Directors has authorized a share repurchase plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the retailer to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors 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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