Costco Wholesale Co. (NASDAQ:COST) Shares Purchased by Brasada Capital Management LP
Brasada Capital Management LP increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,505 shares of the retailer’s stock after acquiring an additional 1,060 shares during the period. Costco Wholesale comprises 1.6% of Brasada Capital Management LP’s investment portfolio, making the stock its 19th biggest position. Brasada Capital Management LP’s holdings in Costco Wholesale were worth $5,611,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Your Advocates Ltd. LLP acquired a new position in Costco Wholesale during the 1st quarter worth about $28,000. Beutel Goodman & Co Ltd. acquired a new position in Costco Wholesale during the 4th quarter worth about $29,000. Fortis Advisors LLC lifted its stake in Costco Wholesale by 98.1% during the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. ERTS Wealth Advisors LLC acquired a new position in Costco Wholesale during the 4th quarter worth about $30,000. Finally, Key Financial Inc acquired a new position in Costco Wholesale during the 1st quarter worth about $32,000. 68.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total transaction of $1,550,000.00. Following the completion of the sale, the vice president now directly owns 42,771 shares of the company’s stock, valued at approximately $13,259,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Timothy L. Rose sold 6,000 shares of the 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 sale, the vice president now directly owns 23,680 shares of the company’s stock, valued at $7,294,624. The disclosure for this sale can be found here. Insiders have sold a total of 36,380 shares of company stock valued at $11,379,079 over the last ninety days. 0.22% of the stock is owned by insiders.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.03). The firm had revenue of $36.45 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, research analysts predict that Costco Wholesale Co. will post 8.46 EPS for the current year.
COST has been the topic of several recent research reports. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating in a report on Tuesday, March 17th. TheStreet upgraded Costco Wholesale from a “c” rating to a “b-” rating in a report on Monday, June 1st. Credit Suisse Group restated a “hold” rating on shares of Costco Wholesale in a report on Thursday, June 4th. Stifel Nicolaus restated a “buy” rating and set a $330.00 price target on shares of Costco Wholesale in a report on Thursday, June 4th. Finally, Royal Bank of Canada upped their price target on Costco Wholesale from $332.00 to $348.00 in a report on Friday, May 29th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and an average target price of $326.70.
About Costco Wholesale
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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