Costco Wholesale Co. (NASDAQ:COST) Stake Reduced by Luts & Greenleigh Group Inc.

Luts & Greenleigh Group Inc. reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,546 shares of the retailer’s stock after selling 92 shares during the quarter. Costco Wholesale comprises about 9.0% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 2nd biggest position. Luts & Greenleigh Group Inc.’s holdings in Costco Wholesale were worth $9,350,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Investment Advisory Group LLC purchased a new position in Costco Wholesale during the 3rd quarter worth $387,000. Keystone Wealth Services LLC increased its holdings in shares of Costco Wholesale by 124.1% in the 3rd quarter. Keystone Wealth Services LLC now owns 9,080 shares of the retailer’s stock valued at $8,049,000 after acquiring an additional 5,028 shares during the period. First Pacific Financial increased its holdings in shares of Costco Wholesale by 1.3% in the 3rd quarter. First Pacific Financial now owns 4,884 shares of the retailer’s stock valued at $4,330,000 after acquiring an additional 62 shares during the period. Peak Financial Management Inc. increased its holdings in shares of Costco Wholesale by 3.3% in the 3rd quarter. Peak Financial Management Inc. now owns 781 shares of the retailer’s stock valued at $692,000 after acquiring an additional 25 shares during the period. Finally, Cabot Wealth Management Inc. increased its holdings in shares of Costco Wholesale by 7.8% in the 3rd quarter. Cabot Wealth Management Inc. now owns 277 shares of the retailer’s stock valued at $246,000 after acquiring an additional 20 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded up $4.85 during trading on Tuesday, reaching $894.61. 1,613,444 shares of the company traded hands, compared to its average volume of 1,952,117. The firm’s fifty day simple moving average is $884.56 and its 200 day simple moving average is $829.12. The stock has a market cap of $396.61 billion, a P/E ratio of 55.54, a PEG ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock worth $9,974,973. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Loop Capital lifted their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Roth Mkm lifted their price target on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $886.74.

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.