Ayrshire Capital Management LLC Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Ayrshire Capital Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,317 shares of the retailer’s stock after selling 14 shares during the period. Costco Wholesale makes up approximately 3.9% of Ayrshire Capital Management LLC’s holdings, making the stock its 5th biggest position. Ayrshire Capital Management LLC’s holdings in Costco Wholesale were worth $8,260,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COST. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale during the 1st quarter valued at about $32,000. Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. increased its holdings in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $50,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,674 shares of company stock worth $5,831,324. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.5 %

Shares of Costco Wholesale stock opened at $889.03 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $882.80 and its 200-day simple moving average is $827.34. The stock has a market capitalization of $394.14 billion, a price-to-earnings ratio of 55.08, a PEG ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Morgan Stanley raised their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Melius Research assumed coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $886.74.

Read Our Latest Report on COST

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.

See Also

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