Moran Wealth Management LLC Has $11.59 Million Stake in Costco Wholesale Corporation $COST

Moran Wealth Management LLC grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,704 shares of the retailer’s stock after buying an additional 128 shares during the quarter. Moran Wealth Management LLC’s holdings in Costco Wholesale were worth $11,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cutler Investment Counsel LLC lifted its holdings in shares of Costco Wholesale by 7.8% during the 2nd quarter. Cutler Investment Counsel LLC now owns 2,893 shares of the retailer’s stock valued at $2,864,000 after buying an additional 210 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $277,000. Jag Capital Management LLC lifted its holdings in shares of Costco Wholesale by 6.9% during the 2nd quarter. Jag Capital Management LLC now owns 22,321 shares of the retailer’s stock valued at $22,096,000 after buying an additional 1,437 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in shares of Costco Wholesale by 22.4% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 509 shares of the retailer’s stock valued at $504,000 after buying an additional 93 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of Costco Wholesale by 2.6% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 5,999 shares of the retailer’s stock valued at $5,938,000 after buying an additional 153 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COST. Mizuho cut their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup cut their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Evercore ISI cut their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. JPMorgan Chase & Co. cut their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,066.23.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $935.56 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $951.65 and its two-hundred day moving average is $972.04. The company has a market cap of $414.62 billion, a P/E ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.15 EPS. On average, equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

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.