Logan Capital Management Inc. decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,891 shares of the retailer’s stock after selling 277 shares during the quarter. Logan Capital Management Inc.’s holdings in Costco Wholesale were worth $793,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in COST. Lenox Wealth Management Inc. raised its stake in shares of Costco Wholesale by 125.9% in the fourth quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock worth $25,000 after purchasing an additional 68 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Costco Wholesale in the third quarter worth $29,000. ERTS Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $30,000. PRW Wealth Management LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $36,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $37,000. Institutional investors and hedge funds own 72.22% of the company’s stock.
In related news, Director Susan L. Decker sold 1,611 shares of Costco Wholesale stock in a transaction on Friday, January 4th. The stock was sold at an average price of $206.15, for a total value of $332,107.65. Following the completion of the sale, the director now owns 51,389 shares of the company’s stock, valued at $10,593,842.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard A. Galanti sold 4,188 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the sale, the vice president now directly owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The disclosure for this sale can be found here. Insiders sold 10,198 shares of company stock valued at $2,336,684 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The company had revenue of $35.40 billion during the quarter. During the same period in the previous year, the firm earned $1.59 EPS. Equities research analysts predict that Costco Wholesale Co. will post 7.9 EPS for the current fiscal year.
Several research analysts have recently weighed in on COST shares. Bank of America set a $255.00 price target on Costco Wholesale and gave the stock a “buy” rating in a research note on Friday, March 8th. TheStreet cut Costco Wholesale from an “a” rating to a “c” rating in a research note on Wednesday, January 16th. Raymond James boosted their price target on Costco Wholesale from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Morgan Stanley set a $220.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research note on Friday, March 8th. Finally, UBS Group boosted their price target on Costco Wholesale to $280.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $244.86.
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Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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