Worth Asset Management LLC Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Worth Asset Management LLC cut its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 66.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228 shares of the retailer’s stock after selling 445 shares during the period. Worth Asset Management LLC’s holdings in Costco Wholesale were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. raised its position in shares of Costco Wholesale by 99,208.6% in the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Costco Wholesale in the 1st quarter valued at about $510,353,000. Assenagon Asset Management S.A. lifted its stake in Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Costco Wholesale by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.2 %

NASDAQ COST opened at $895.00 on Friday. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. The firm has a 50 day simple moving average of $881.46 and a 200-day simple moving average of $825.57. The firm has a market cap of $396.78 billion, a price-to-earnings ratio of 53.93, a PEG 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.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Melius Research assumed coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Roth Mkm raised their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Oppenheimer boosted their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Evercore ISI raised their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $886.74.

Get Our Latest Research Report on COST

Insiders Place Their Bets

In other news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,674 shares of company stock worth $5,831,324 in the last quarter. 0.18% of the stock is owned by company insiders.

Costco Wholesale Company Profile

(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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