Triton Wealth Management PLLC Takes $3.35 Million Position in Costco Wholesale Corporation $COST

Triton Wealth Management PLLC purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,589 shares of the retailer’s stock, valued at approximately $3,351,000. Costco Wholesale comprises about 1.4% of Triton Wealth Management PLLC’s holdings, making the stock its 13th largest holding.

A number of other institutional investors have also recently made changes to their positions in COST. Fishman Jay A Ltd. MI lifted its holdings in Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after purchasing an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its holdings in Costco Wholesale by 0.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after purchasing an additional 53 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after purchasing an additional 167 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in Costco Wholesale during the 1st quarter worth about $3,095,000. Finally, Rossmore Private Capital lifted its holdings in Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on COST. Daiwa Capital Markets dropped their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Mizuho lowered their price target on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. BTIG Research began coverage on Costco Wholesale in a report on Tuesday. They issued a “buy” rating and a $1,115.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,130.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. Twenty research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $1,068.04.

Costco Wholesale Price Performance

Shares of COST stock opened at $946.51 on Wednesday. The firm has a market cap of $419.47 billion, a P/E ratio of 51.98, a P/E/G ratio of 5.67 and a beta of 0.98. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The business’s 50 day moving average price is $951.71 and its 200-day moving average price is $971.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

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

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 3,381 shares of the firm’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 value of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm’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 completion of the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Company 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.