Welch & Forbes LLC reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 111,737 shares of the retailer’s stock after selling 627 shares during the period. Welch & Forbes LLC’s holdings in Costco Wholesale were worth $32,841,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Costco Wholesale by 27.3% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,539 shares of the retailer’s stock valued at $1,308,000 after acquiring an additional 974 shares during the period. Parallel Advisors LLC boosted its position in Costco Wholesale by 7.8% in the third quarter. Parallel Advisors LLC now owns 15,788 shares of the retailer’s stock valued at $4,549,000 after buying an additional 1,140 shares in the last quarter. Morgan Stanley boosted its position in Costco Wholesale by 8.8% in the second quarter. Morgan Stanley now owns 3,394,496 shares of the retailer’s stock valued at $897,029,000 after buying an additional 274,845 shares in the last quarter. BBVA USA Bancshares Inc. boosted its position in Costco Wholesale by 55.9% in the third quarter. BBVA USA Bancshares Inc. now owns 19,013 shares of the retailer’s stock valued at $5,478,000 after buying an additional 6,818 shares in the last quarter. Finally, HWG Holdings LP boosted its position in Costco Wholesale by 17.4% in the third quarter. HWG Holdings LP now owns 2,296 shares of the retailer’s stock valued at $662,000 after buying an additional 340 shares in the last quarter. 69.85% of the stock is currently owned by hedge funds and other institutional investors.
COST has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Costco Wholesale from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Edward Jones lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Wells Fargo & Co raised their target price on shares of Costco Wholesale from $290.00 to $300.00 and gave the company an “equal weight” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Costco Wholesale from $329.00 to $334.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Northcoast Research lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Hold” and a consensus target price of $300.45.
Shares of NASDAQ COST traded up $0.36 during trading on Friday, reaching $303.39. 1,143,619 shares of the company traded hands, compared to its average volume of 2,090,209. The firm has a 50 day simple moving average of $295.36 and a 200-day simple moving average of $289.61. The company has a quick ratio of 0.49, a current ratio of 1.01 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $132.42 billion, a PE ratio of 37.04, a P/E/G ratio of 4.30 and a beta of 0.89. Costco Wholesale Co. has a 52-week low of $205.75 and a 52-week high of $307.34.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 12th. The retailer reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $37.04 billion for the quarter, compared to the consensus estimate of $37.40 billion. Costco Wholesale had a net margin of 2.42% and a return on equity of 24.22%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 EPS. As a group, research analysts predict that Costco Wholesale Co. will post 8.59 EPS for the current year.
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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