Cypress Wealth Services LLC Has $4.56 Million Holdings in Costco Wholesale Corporation $COST

Key Points

• Cypress Wealth Services LLC increased its stake in Costco Wholesale by 13.5% during Q2, holding 4,604 shares worth approximately $4.56 million.
• Institutional investors now own 68.48% of Costco's stock, with multiple funds significantly increasing their positions in recent quarters.
• Costco reported better-than-expected quarterly earnings of $5.87 per share, exceeding estimates by $0.06, and had a revenue of $86.16 billion, up 8.1% year-over-year.

Cypress Wealth Services LLC grew its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,604 shares of the retailer's stock after purchasing an additional 549 shares during the quarter. Cypress Wealth Services LLC's holdings in Costco Wholesale were worth $4,558,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bulwark Capital Corp bought a new position in shares of Costco Wholesale in the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC boosted its stake in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after purchasing an additional 39 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Costco Wholesale by 72.0% in the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after purchasing an additional 18 shares during the last quarter. Finally, eCIO Inc. bought a new position in shares of Costco Wholesale in the 1st quarter valued at about $48,000. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the stock a "neutral" rating in a research note on Friday, September 26th. Morgan Stanley reduced their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Evercore ISI reduced their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 24th. Finally, Daiwa Capital Markets reduced their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Twenty analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,068.04.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 3,381 shares of the firm's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares of the company's stock, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of COST opened at $946.51 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23. The firm's 50 day moving average price is $951.71 and its two-hundred day moving average price is $971.87. The firm has a market cap of $419.47 billion, a P/E ratio of 51.98, a PEG ratio of 5.67 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter in the previous year, the firm posted $5.15 earnings per share. The business's revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

About Costco Wholesale

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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