M&R Capital Management Inc. increased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,092 shares of the retailer’s stock after acquiring an additional 100 shares during the quarter. M&R Capital Management Inc.’s holdings in Costco Wholesale were worth $2,517,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in COST. O Shares Investment Advisers LLC purchased a new position in shares of Costco Wholesale in the second quarter worth $4,418,000. Burns J W & Co. Inc. NY boosted its stake in Costco Wholesale by 4.8% in the 2nd quarter. Burns J W & Co. Inc. NY now owns 11,274 shares of the retailer’s stock worth $3,418,000 after purchasing an additional 513 shares in the last quarter. Colony Group LLC boosted its stake in Costco Wholesale by 14.3% in the 1st quarter. Colony Group LLC now owns 17,271 shares of the retailer’s stock worth $4,925,000 after purchasing an additional 2,158 shares in the last quarter. Oak Grove Capital LLC boosted its stake in Costco Wholesale by 155.9% in the 2nd quarter. Oak Grove Capital LLC now owns 36,045 shares of the retailer’s stock worth $10,929,000 after purchasing an additional 21,958 shares in the last quarter. Finally, Clarius Group LLC boosted its stake in Costco Wholesale by 5.0% in the 2nd quarter. Clarius Group LLC now owns 8,477 shares of the retailer’s stock worth $2,570,000 after purchasing an additional 406 shares in the last quarter. Institutional investors own 68.20% of the company’s stock.
In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares of Costco Wholesale stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $355.69, for a total value of $106,707.00. Following the transaction, the director now owns 4,433 shares in the company, valued at $1,576,773.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Galanti sold 2,730 shares of Costco Wholesale stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $325.07, for a total value of $887,441.10. Following the completion of the transaction, the chief financial officer now owns 25,415 shares in the company, valued at approximately $8,261,654.05. The disclosure for this sale can be found here. Insiders sold 25,534 shares of company stock worth $8,630,908 in the last quarter. 0.22% of the stock is owned by insiders.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $52.03 billion. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.69 earnings per share. As a group, equities analysts expect that Costco Wholesale Co. will post 9.53 EPS for the current year.
A number of equities analysts recently issued reports on COST shares. Robert W. Baird upped their price target on shares of Costco Wholesale from $335.00 to $375.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Loop Capital upped their target price on shares of Costco Wholesale from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. They noted that the move was a valuation call. MKM Partners upped their target price on shares of Costco Wholesale from $320.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Finally, BidaskClub upgraded shares of Costco Wholesale from a “sell” rating to a “hold” rating in a research note on Thursday, September 24th. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average target price of $359.00.
Costco Wholesale 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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