Cornerstone Wealth Management LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Cornerstone Wealth Management LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,494 shares of the retailer’s stock after selling 161 shares during the period. Cornerstone Wealth Management LLC’s holdings in Costco Wholesale were worth $3,984,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Neville Rodie & Shaw Inc. increased its position in Costco Wholesale by 0.4% during the first quarter. Neville Rodie & Shaw Inc. now owns 35,192 shares of the retailer’s stock worth $25,783,000 after purchasing an additional 133 shares during the last quarter. Rise Advisors LLC increased its stake in Costco Wholesale by 41.7% during the first quarter. Rise Advisors LLC now owns 748 shares of the retailer’s stock worth $548,000 after acquiring an additional 220 shares during the last quarter. Farmers Trust Co. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $216,000. Collective Family Office LLC raised its stake in shares of Costco Wholesale by 3.4% in the 1st quarter. Collective Family Office LLC now owns 947 shares of the retailer’s stock valued at $694,000 after acquiring an additional 31 shares during the period. Finally, Safeguard Financial LLC increased its holdings in Costco Wholesale by 10.8% in the 1st quarter. Safeguard Financial LLC now owns 349 shares of the retailer’s stock valued at $256,000 after purchasing an additional 34 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COST has been the subject of several research reports. Loop Capital lifted their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird raised their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price objective on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $886.74.

Insider Buying and Selling

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,224 shares of company stock worth $9,974,973. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Down 0.8 %

COST stock opened at $887.38 on Thursday. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The firm has a market capitalization of $393.41 billion, a PE ratio of 54.98, a P/E/G ratio of 5.53 and a beta of 0.80. The company’s 50 day simple moving average is $887.65 and its 200-day simple moving average is $830.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last posted 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the previous year, the business posted $4.86 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

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.