Exchange Traded Concepts LLC Sells 1,279 Shares of Costco Wholesale Co. (NASDAQ:COST)

Exchange Traded Concepts LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,171 shares of the retailer’s stock after selling 1,279 shares during the period. Exchange Traded Concepts LLC’s holdings in Costco Wholesale were worth $21,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the first quarter valued at about $32,000. Financial Connections Group Inc. grew its position in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in Costco Wholesale in the second quarter valued at about $48,000. Ruedi Wealth Management Inc. grew its position in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale during the second quarter worth about $50,000. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COST shares. BMO Capital Markets restated an “outperform” rating and set a $980.00 price target (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. TD Cowen boosted their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus boosted their price target on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Redburn Atlantic cut 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 report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $886.74.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was 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 directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was 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 directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,674 shares of company stock worth $5,831,324 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Down 0.5 %

NASDAQ COST opened at $889.03 on Friday. The company has a market cap of $394.14 billion, a price-to-earnings ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The business has a 50 day moving average price of $882.80 and a 200-day moving average price of $827.34. 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 released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS 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 the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.86 earnings per share. As a group, equities analysts expect 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.