Private Advisory Group LLC Cuts Holdings in Costco Wholesale Co. (COST)

Private Advisory Group LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,974 shares of the retailer’s stock after selling 932 shares during the period. Costco Wholesale accounts for approximately 1.6% of Private Advisory Group LLC’s holdings, making the stock its 20th biggest holding. Private Advisory Group LLC’s holdings in Costco Wholesale were worth $2,624,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after purchasing an additional 937,121 shares during the period. BlackRock Inc. increased its stake in shares of Costco Wholesale by 2.9% in the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares during the last quarter. Capital World Investors increased its stake in shares of Costco Wholesale by 6.0% in the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Costco Wholesale by 2.3% in the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after acquiring an additional 207,675 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Costco Wholesale by 14.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock valued at $1,118,138,000 after acquiring an additional 858,969 shares during the last quarter. Institutional investors own 70.91% of the company’s stock.

A number of analysts have recently commented on the company. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a research note on Thursday, January 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $173.00 price target on shares of Costco Wholesale in a research note on Monday, October 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale in a research note on Monday, December 4th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, September 19th. Finally, Bank of America reaffirmed a “buy” rating and issued a $192.00 price target on shares of Costco Wholesale in a research note on Monday, October 9th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $188.90.

In other news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $188.62, for a total transaction of $943,100.00. Following the completion of the transaction, the insider now directly owns 30,853 shares of the company’s stock, valued at approximately $5,819,492.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul G. Moulton sold 6,985 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $187.92, for a total transaction of $1,312,621.20. Following the transaction, the vice president now directly owns 45,248 shares of the company’s stock, valued at $8,503,004.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,027 shares of company stock valued at $14,914,835. 0.58% of the stock is owned by company insiders.

Shares of Costco Wholesale Co. (COST) opened at $186.29 on Wednesday. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $195.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98. The stock has a market capitalization of $81,820.00, a P/E ratio of 29.62, a P/E/G ratio of 3.12 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same period in the prior year, the business earned $1.24 EPS. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts anticipate that Costco Wholesale Co. will post 6.59 earnings per share for the current year.

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Costco Wholesale Company Profile

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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

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