Jessup Wealth Management Inc Has $3.65 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Jessup Wealth Management Inc reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 22.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,117 shares of the retailer’s stock after selling 1,186 shares during the quarter. Costco Wholesale makes up 1.7% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 19th largest holding. Jessup Wealth Management Inc’s holdings in Costco Wholesale were worth $3,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the 1st quarter worth about $32,000. Financial Connections Group Inc. grew its position in Costco Wholesale by 557.1% during 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 in the last quarter. Vima LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $34,000. Bank & Trust Co acquired a new position in Costco Wholesale in the 2nd quarter valued at approximately $48,000. Finally, Ruedi Wealth Management Inc. lifted its position in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred 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 transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction dated 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 owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the transaction, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,674 shares of company stock worth $5,831,324. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Oppenheimer increased their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird boosted their price objective on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley raised their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Evercore ISI increased their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $886.74.

Costco Wholesale Trading Down 0.4 %

Shares of Costco Wholesale stock traded down $3.32 during midday trading on Friday, reaching $890.31. The company had a trading volume of 458,175 shares, compared to its average volume of 1,950,611. 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 Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The stock has a fifty day moving average price of $881.46 and a 200 day moving average price of $825.57. The firm has a market cap of $394.70 billion, a PE ratio of 53.62, a P/E/G ratio of 5.53 and a beta of 0.80.

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

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.