Peak Financial Management Inc. Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Peak Financial Management Inc. increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 781 shares of the retailer’s stock after buying an additional 25 shares during the period. Peak Financial Management Inc.’s holdings in Costco Wholesale were worth $692,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Strong Tower Advisory Services increased its holdings in Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after buying an additional 137 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after purchasing an additional 2,620 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in Costco Wholesale by 22.8% during the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after purchasing an additional 656 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its position in Costco Wholesale by 30.8% during the second quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In related news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,224 shares of company stock valued at $8,181,553 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on COST shares. Tigress Financial increased their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Loop Capital raised their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. DA Davidson reaffirmed a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Stifel Nicolaus raised 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, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $886.74.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded up $4.85 during trading on Tuesday, hitting $894.61. 1,563,182 shares of the stock traded hands, compared to its average volume of 1,951,865. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market cap of $396.61 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a fifty day moving average price of $884.56 and a two-hundred day moving average price of $829.12. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83.

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