Procyon Advisors LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Procyon Advisors LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,140 shares of the retailer’s stock after selling 291 shares during the period. Procyon Advisors LLC’s holdings in Costco Wholesale were worth $8,102,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Accelerate Investment Advisors LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at approximately $217,000. Paladin Wealth LLC purchased a new stake in Costco Wholesale in the 3rd quarter valued at $619,000. VitalStone Financial LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth $71,000. Thomasville National Bank grew its position in Costco Wholesale by 12.7% during the 3rd quarter. Thomasville National Bank now owns 816 shares of the retailer’s stock worth $723,000 after purchasing an additional 92 shares during the last quarter. Finally, Affiance Financial LLC increased its stake in Costco Wholesale by 12.0% in the third quarter. Affiance Financial LLC now owns 651 shares of the retailer’s stock valued at $578,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $891.50 on Monday. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a 50 day moving average price of $882.80 and a 200 day moving average price of $828.01. The company has a market cap of $395.23 billion, a price-to-earnings ratio of 55.17, a PEG ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same period last year, the business posted $4.86 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now directly owns 23,800 shares in the company, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,824 shares of company stock worth $4,260,493 over the last ninety days. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

COST has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Oppenheimer upped their price objective on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday. Loop Capital raised their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley increased their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $886.74.

Costco Wholesale 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.