Old North State Trust LLC Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)
Old North State Trust LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,052 shares of the retailer’s stock after buying an additional 50 shares during the quarter. Old North State Trust LLC’s holdings in Costco Wholesale were worth $622,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of COST. Your Advocates Ltd. LLP purchased a new position in shares of Costco Wholesale in the 1st quarter worth about $28,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $29,000. Fortis Advisors LLC raised its position in shares of Costco Wholesale by 98.1% in the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. ERTS Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $30,000. Finally, Key Financial Inc purchased a new position in shares of Costco Wholesale in the 1st quarter worth about $32,000. 68.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:COST traded down $0.47 during mid-day trading on Friday, reaching $325.07. 103,958 shares of the company traded hands, compared to its average volume of 2,482,258. The company’s 50 day moving average price is $304.24 and its 200-day moving average price is $303.32. The firm has a market cap of $143.73 billion, a PE ratio of 38.79, a PEG ratio of 4.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 0.63. Costco Wholesale Co. has a 52 week low of $262.71 and a 52 week high of $325.26.
In related news, VP Timothy L. Rose sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $308.05, for a total value of $1,848,300.00. Following the transaction, the vice president now directly owns 23,680 shares of the company’s stock, valued at approximately $7,294,624. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $314.83, for a total value of $314,830.00. Following the completion of the transaction, the director now directly owns 32,582 shares in the company, valued at $10,257,791.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,650 shares of company stock valued at $8,208,438. 0.22% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $330.00 target price on shares of Costco Wholesale in a research report on Thursday, June 4th. TheStreet raised Costco Wholesale from a “c” rating to a “b-” rating in a research report on Monday, June 1st. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a research report on Monday, June 29th. Credit Suisse Group reissued a “hold” rating on shares of Costco Wholesale in a research report on Thursday, June 4th. Finally, Morgan Stanley boosted their target price on Costco Wholesale from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $323.00.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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