Envestnet Asset Management Inc. Purchases 18,818 Shares of Costco Wholesale Co. (NASDAQ:COST)

Envestnet Asset Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,794 shares of the retailer’s stock after buying an additional 18,818 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Costco Wholesale worth $113,035,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COST. Norges Bank acquired a new stake in Costco Wholesale during the fourth quarter worth approximately $1,337,357,000. 1832 Asset Management L.P. grew its position in Costco Wholesale by 59.4% during the first quarter. 1832 Asset Management L.P. now owns 1,537,077 shares of the retailer’s stock worth $450,013,000 after buying an additional 572,815 shares in the last quarter. Invesco Ltd. grew its position in Costco Wholesale by 60.3% during the first quarter. Invesco Ltd. now owns 1,414,780 shares of the retailer’s stock worth $403,397,000 after buying an additional 532,443 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Costco Wholesale by 110.8% during the first quarter. The Manufacturers Life Insurance Company now owns 894,576 shares of the retailer’s stock worth $255,071,000 after buying an additional 470,248 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Costco Wholesale by 36.9% during the first quarter. APG Asset Management N.V. now owns 1,318,618 shares of the retailer’s stock worth $284,357,000 after buying an additional 355,263 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

In other Costco Wholesale news, VP Roland Michael Vachris sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $300.95, for a total transaction of $1,203,800.00. Also, VP Timothy L. Rose sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $308.05, for a total transaction of $1,848,300.00. Following the transaction, the vice president now directly owns 23,680 shares of the company’s stock, valued at approximately $7,294,624. The disclosure for this sale can be found here. Insiders have sold 26,650 shares of company stock valued at $8,208,438 in the last ninety days. Insiders own 0.22% of the company’s stock.

COST stock opened at $316.32 on Thursday. Costco Wholesale Co. has a 1 year low of $262.71 and a 1 year high of $325.26. The company has a market cap of $139.62 billion, a P/E ratio of 37.84, a PEG ratio of 4.46 and a beta of 0.68. The firm has a 50-day moving average of $304.01 and a 200 day moving average of $303.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 0.63.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.03). Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The company had revenue of $36.45 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Costco Wholesale’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Co. will post 8.44 earnings per share for the current fiscal year.

COST has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Costco Wholesale from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Credit Suisse Group reiterated a “hold” rating on shares of Costco Wholesale in a research note on Thursday, June 4th. Stifel Nicolaus restated a “buy” rating and issued a $330.00 target price on shares of Costco Wholesale in a research note on Thursday, June 4th. Oppenheimer assumed coverage on shares of Costco Wholesale in a report on Wednesday, June 3rd. They issued a “buy” rating and a $335.00 price target on the stock. Finally, Nomura Securities reaffirmed a “hold” rating and issued a $310.00 price target on shares of Costco Wholesale in a report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $321.87.

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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