Profit Investment Management LLC Decreases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Profit Investment Management LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 21.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,035 shares of the retailer’s stock after selling 275 shares during the period. Profit Investment Management LLC’s holdings in Costco Wholesale were worth $918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Oak Asset Management LLC increased its position in shares of Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after acquiring an additional 12 shares during the last quarter. Peddock Capital Advisors LLC increased its holdings in Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the last quarter. Perkins Coie Trust Co raised its position in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. lifted its stake in Costco Wholesale by 1.3% during the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after purchasing an additional 13 shares in the last quarter. Finally, Boltwood Capital Management boosted its position in shares of Costco Wholesale by 1.7% during the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after buying an additional 13 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the sale, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the transaction, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,674 shares of company stock worth $5,831,324. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on COST. Barclays boosted their price objective on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. DA Davidson reissued a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday. Bank of America lifted their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Melius Research began coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price on the stock. Finally, Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $886.74.

Costco Wholesale Stock Performance

NASDAQ:COST traded down $3.32 during mid-day trading on Friday, reaching $890.31. 458,175 shares of the stock were exchanged, compared to its average volume of 1,950,611. The stock has a market capitalization of $394.70 billion, a P/E ratio of 53.62, a P/E/G ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a 50 day simple moving average of $881.46 and a 200-day simple moving average of $825.57. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $79.91 billion. During the same period last year, the firm posted $4.86 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

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.