NorthRock Partners LLC Acquires 663 Shares of Costco Wholesale Corporation $COST

Key Points

• NorthRock Partners LLC increased its stake in Costco Wholesale by 6.2%, acquiring an additional 663 shares during the second quarter, bringing its total holdings to 11,375 shares valued at approximately $11.26 million.
• Costco reported earnings of $5.87 per share for the last quarter, exceeding analyst expectations of $5.81, and had a revenue of $86.16 billion, reflecting an 8.1% year-over-year increase.
• Various institutional investors have adjusted their holdings in Costco, with 68.48% of the company’s stock now owned by institutional investors, indicating strong investment interest.

NorthRock Partners LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,375 shares of the retailer's stock after purchasing an additional 663 shares during the period. NorthRock Partners LLC's holdings in Costco Wholesale were worth $11,260,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Costco Wholesale by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 30,713 shares of the retailer's stock valued at $30,404,000 after purchasing an additional 3,602 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in Costco Wholesale by 3.9% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 1,184 shares of the retailer's stock valued at $1,106,000 after acquiring an additional 44 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Costco Wholesale by 7.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 75,561 shares of the retailer's stock valued at $74,801,000 after acquiring an additional 5,493 shares in the last quarter. Vest Financial LLC lifted its stake in Costco Wholesale by 10.8% in the 2nd quarter. Vest Financial LLC now owns 25,653 shares of the retailer's stock valued at $25,395,000 after acquiring an additional 2,507 shares in the last quarter. Finally, Pegasus Asset Management Inc. bought a new stake in Costco Wholesale in the 2nd quarter valued at approximately $357,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Up 0.6%

Shares of Costco Wholesale stock opened at $935.56 on Tuesday. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The stock has a market cap of $414.62 billion, a P/E ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business's 50 day moving average is $951.65 and its 200-day moving average is $972.04.

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on COST shares. Daiwa Capital Markets cut their target price on 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. Roth Capital set a $907.00 target price on Costco Wholesale and gave the company a "neutral" rating in a research note on Friday, September 26th. Mizuho cut their target price on Costco Wholesale from $975.00 to $950.00 and set a "neutral" rating on the stock in a research note on Thursday. Weiss Ratings restated a "buy (b-)" rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Finally, Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,066.23.

Costco Wholesale Company Profile

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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