CX Institutional grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,147 shares of the retailer’s stock after acquiring an additional 116 shares during the quarter. CX Institutional’s holdings in Costco Wholesale were worth $1,731,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Costco Wholesale by 55,048.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock worth $1,292,998,000 after purchasing an additional 5,494,946 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Costco Wholesale by 145.0% in the 3rd quarter. Martingale Asset Management L P now owns 31,994 shares of the retailer’s stock worth $7,516,000 after purchasing an additional 18,935 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Costco Wholesale in the 3rd quarter worth $284,000. Caxton Associates LP acquired a new stake in shares of Costco Wholesale in the 3rd quarter worth $286,000. Finally, Man Group plc boosted its position in shares of Costco Wholesale by 5.7% in the 3rd quarter. Man Group plc now owns 77,254 shares of the retailer’s stock worth $18,145,000 after purchasing an additional 4,162 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.
A number of research firms have recently weighed in on COST. Nomura raised their price objective on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price target on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Citigroup lifted their price target on Costco Wholesale from $242.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Loop Capital lifted their price target on Costco Wholesale from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $246.57.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.34. The business had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same period last year, the firm earned $1.59 EPS. As a group, equities research analysts expect that Costco Wholesale Co. will post 7.9 earnings per share for the current fiscal year.
In other news, Director Susan L. Decker sold 2,049 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total value of $475,368.00. Following the completion of the transaction, the director now owns 48,589 shares of the company’s stock, valued at approximately $11,272,648. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Meisenbach acquired 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was bought at an average cost of $242.65 per share, with a total value of $727,950.00. Following the acquisition, the director now owns 12,833 shares in the company, valued at $3,113,927.45. The disclosure for this purchase can be found here. In the last three months, insiders sold 8,587 shares of company stock valued at $2,004,576. Insiders own 0.21% of the company’s stock.
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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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