Keystone Wealth Services LLC Increases Position in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Keystone Wealth Services LLC increased its position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 124.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,080 shares of the retailer’s stock after purchasing an additional 5,028 shares during the period. Costco Wholesale accounts for about 2.2% of Keystone Wealth Services LLC’s investment portfolio, making the stock its 8th largest holding. Keystone Wealth Services LLC’s holdings in Costco Wholesale were worth $8,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the first quarter worth approximately $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 worth $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale in the second quarter worth approximately $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 worth $50,000 after buying an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Costco Wholesale during the 2nd quarter worth approximately $50,000. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COST. Oppenheimer lifted their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Evercore ISI lifted their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. BMO Capital Markets reissued an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $886.74.

Check Out Our Latest Analysis on COST

Costco Wholesale Price Performance

Shares of COST stock traded up $4.85 during trading hours on Tuesday, reaching $894.61. 1,613,444 shares of the company were exchanged, compared to its average volume of 1,952,117. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The stock’s fifty day moving average is $884.56 and its two-hundred day moving average is $829.12. The company has a market cap of $396.61 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.86 earnings per share. Sell-side analysts forecast that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock valued at $9,974,973 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

(Free Report)

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.

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