Horizon Wealth Management LLC Acquires 12 Shares of Costco Wholesale Co. (NASDAQ:COST)

Horizon Wealth Management LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268 shares of the retailer’s stock after acquiring an additional 12 shares during the quarter. Horizon Wealth Management LLC’s holdings in Costco Wholesale were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COST. Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the first quarter worth about $32,000. Financial Connections Group Inc. increased its stake in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. lifted its stake in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the second quarter valued at $50,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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 $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock valued at $9,974,973. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COST shares. Evercore ISI raised their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Oppenheimer increased their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Finally, Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $886.74.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $887.38 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The business has a 50 day simple moving average of $887.65 and a two-hundred day simple moving average of $830.66. The stock has a market capitalization of $393.41 billion, a P/E ratio of 54.98, 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.

Costco Wholesale (NASDAQ:COST) last announced 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 company had revenue of $79.70 billion for 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 firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.86 EPS. As a group, analysts predict that Costco Wholesale Co. will post 17.73 EPS 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.