Pegasus Asset Management Inc. Acquires Shares of 361 Costco Wholesale Corporation $COST

Key Points

• Pegasus Asset Management Inc. acquired 361 shares of Costco Wholesale Corporation, valued at approximately $357,000 during the second quarter.
• Analysts have set varying price targets for Costco, with the highest at $1,200 and a consensus target price of $1,066.23, reflecting a generally positive outlook.
• Costco reported earnings per share of $5.87 for the last quarter, surpassing estimates and showing an 8.1% year-over-year revenue increase with net revenue of $86.16 billion.

Pegasus Asset Management Inc. acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 361 shares of the retailer's stock, valued at approximately $357,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC grew its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. grew its position in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock worth $42,000 after buying an additional 39 shares in the last quarter. eCIO Inc. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth $48,000. Finally, Aspect Partners LLC grew its holdings in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on COST shares. Jefferies Financial Group reissued a "buy" rating on shares of Costco Wholesale in a report on Thursday, October 9th. Sanford C. Bernstein increased their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Argus increased their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Daiwa Capital Markets reduced their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 30th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,066.23.

Costco Wholesale Trading Up 0.6%

COST opened at $935.56 on Tuesday. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market cap of $414.62 billion, a P/E ratio of 51.38, a PEG ratio of 5.64 and a beta of 0.98. The company'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 issued its 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 last year, the business posted $5.15 earnings per share. The company's quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction dated 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 sale, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.