Watts Gwilliam & Co. LLC Takes $1.92 Million Position in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Watts Gwilliam & Co. LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,150 shares of the retailer’s stock, valued at approximately $1,915,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strong Tower Advisory Services lifted its stake in shares of Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after purchasing an additional 137 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Costco Wholesale by 52.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after buying an additional 2,620 shares in the last quarter. Main Street Financial Solutions LLC increased its position in Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after buying an additional 656 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its position in Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after buying an additional 1,319 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the transaction, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,674 shares of company stock worth $5,831,324 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $893.63 on Friday. The company has a market capitalization of $396.17 billion, a PE ratio of 53.93, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The business’s fifty day moving average is $881.46 and its 200 day moving average is $825.57. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.86 earnings per share. Sell-side analysts predict that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Barclays raised their price objective on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Morgan Stanley lifted their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Melius Research began coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $886.74.

Check Out Our Latest Report on Costco Wholesale

About Costco Wholesale

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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