Triton Wealth Management PLLC Makes New Investment in Costco Wholesale Corporation $COST

Key Points

• Triton Wealth Management PLLC invested $3.35 million in Costco Wholesale, acquiring 3,589 shares, making it the firm's 13th biggest position.
• Recent analyst reports show mixed ratings for Costco, with price targets ranging from $950 to $1,050, while the consensus rating remains a "Moderate Buy" with a target of $1,068.04.
• Costco reported an 8.1% year-over-year revenue increase to $86.16 billion in its last quarterly earnings, surpassing analyst expectations.

Triton Wealth Management PLLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,589 shares of the retailer's stock, valued at approximately $3,351,000. Costco Wholesale comprises 1.4% of Triton Wealth Management PLLC's portfolio, making the stock its 13th biggest position.

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

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Mizuho reduced their price objective on Costco Wholesale from $975.00 to $950.00 and set a "neutral" rating on the stock in a research note on Thursday, October 9th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup cut their price target on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Twenty equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.04.

Costco Wholesale Trading Up 1.2%

NASDAQ COST opened at $946.51 on Wednesday. The company has a market cap of $419.47 billion, a price-to-earnings ratio of 51.98, a P/E/G 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 business has a 50 day moving average price of $951.71 and a 200-day moving average price of $971.87. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.15 earnings per share. As a group, equities analysts expect 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 company'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 completion of the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the executive vice president owned 9,740 shares of the company's stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Corporate 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.

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