Castle Rock Wealth Management LLC Buys 2,045 Shares of Costco Wholesale Co. (NASDAQ:COST)

Castle Rock Wealth Management LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 123.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,704 shares of the retailer’s stock after purchasing an additional 2,045 shares during the quarter. Costco Wholesale comprises about 0.8% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Castle Rock Wealth Management LLC’s holdings in Costco Wholesale were worth $3,257,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of COST. Oak Asset Management LLC grew its position in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after acquiring an additional 12 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after buying an additional 12 shares during the period. Perkins Coie Trust Co raised its stake in Costco Wholesale by 0.3% during the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after purchasing an additional 12 shares during the last quarter. Bedel Financial Consulting Inc. raised its stake in Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after purchasing an additional 13 shares during the last quarter. Finally, Boltwood Capital Management raised its stake in Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $3.14 during trading on Friday, hitting $890.49. The company had a trading volume of 547,865 shares, compared to its average volume of 1,951,301. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The stock has a 50 day simple moving average of $881.46 and a 200 day simple moving average of $825.57. The firm has a market capitalization of $394.78 billion, a P/E ratio of 53.62, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $4.86 earnings per share. As a group, analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on COST. Tigress Financial upped their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. BMO Capital Markets restated an “outperform” rating and set a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Loop Capital lifted their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. TD Cowen lifted their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Bank of America raised their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $886.74.

Insider Activity

In other news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred 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 $7,671,983.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the sale, the insider now directly owns 10,992 shares of the company’s stock, valued at $9,327,041.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,674 shares of company stock valued at $5,831,324 in the last ninety days. Insiders own 0.18% of the company’s stock.

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.