JGP Wealth Management LLC lifted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,177 shares of the retailer's stock after acquiring an additional 428 shares during the quarter. JGP Wealth Management LLC's holdings in Costco Wholesale were worth $4,135,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Costco Wholesale by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer's stock worth $4,097,127,000 after acquiring an additional 18,045 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Costco Wholesale by 5.2% in the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer's stock worth $3,695,796,000 after acquiring an additional 191,985 shares in the last quarter. Nuveen LLC acquired a new position in Costco Wholesale during the 1st quarter worth $3,461,159,000. Finally, Jennison Associates LLC lifted its holdings in Costco Wholesale by 3.9% during the 1st quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock worth $3,175,579,000 after buying an additional 125,441 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Stock Performance
Shares of Costco Wholesale stock opened at $946.51 on Wednesday. The firm has a fifty day moving average of $951.71 and a two-hundred day moving average of $971.87. The stock has a market capitalization of $419.47 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 5.67 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.15 EPS. As a group, equities research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.
Insiders Place Their Bets
In related news, EVP Russell D. Miller sold 3,381 shares of the company'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 sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of the company'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 sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
COST has been the topic of several research reports. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a "neutral" rating in a report on Friday, September 26th. Evercore ISI reduced their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Truist Financial reduced their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. Oppenheimer reaffirmed an "outperform" rating and set a $1,130.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Twenty analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,068.04.
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
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).
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