Riverbridge Partners LLC Purchases Shares of 861 Costco Wholesale Co. (NASDAQ:COST)

Riverbridge Partners LLC purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 861 shares of the retailer’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Costco Wholesale during the 4th quarter worth about $1,337,357,000. 1832 Asset Management L.P. boosted its position in shares of Costco Wholesale by 59.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,537,077 shares of the retailer’s stock worth $450,013,000 after purchasing an additional 572,815 shares in the last quarter. Invesco Ltd. boosted its position in shares of Costco Wholesale by 60.3% during the 1st quarter. Invesco Ltd. now owns 1,414,780 shares of the retailer’s stock worth $403,397,000 after purchasing an additional 532,443 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Costco Wholesale by 110.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 894,576 shares of the retailer’s stock worth $255,071,000 after purchasing an additional 470,248 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Costco Wholesale by 36.9% during the 1st quarter. APG Asset Management N.V. now owns 1,318,618 shares of the retailer’s stock worth $284,357,000 after purchasing an additional 355,263 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

COST has been the topic of a number of research analyst reports. Wolfe Research started coverage on shares of Costco Wholesale in a research report on Tuesday, March 31st. They set a “market perform” rating on the stock. Morgan Stanley upped their target price on shares of Costco Wholesale from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating in a report on Tuesday, March 17th. BidaskClub lowered shares of Costco Wholesale from a “hold” rating to a “sell” rating in a report on Thursday, June 18th. Finally, Loop Capital upped their target price on shares of Costco Wholesale from $350.00 to $355.00 in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $321.87.

In related news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $309.31, for a total value of $1,546,550.00. Following the completion of the transaction, the insider now directly owns 15,632 shares of the company’s stock, valued at approximately $4,835,133.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patrick J. Callans sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $309.22, for a total transaction of $773,050.00. Following the completion of the transaction, the vice president now directly owns 55,114 shares of the company’s stock, valued at $17,042,351.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,650 shares of company stock valued at $8,208,438. 0.22% of the stock is currently owned by company insiders.

Shares of COST stock opened at $316.32 on Thursday. The company has a 50 day moving average of $304.01 and a 200-day moving average of $303.21. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.59. Costco Wholesale Co. has a 12-month low of $262.71 and a 12-month high of $325.26. The firm 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.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Costco Wholesale Co. will post 8.44 EPS for the current year.

Costco Wholesale Company 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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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