Contravisory Investment Management Inc. Purchases 57 Shares of Costco Wholesale Co. (NASDAQ:COST)

Contravisory Investment Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,116 shares of the retailer’s stock after purchasing an additional 57 shares during the quarter. Costco Wholesale makes up about 2.1% of Contravisory Investment Management Inc.’s portfolio, making the stock its 11th largest holding. Contravisory Investment Management Inc.’s holdings in Costco Wholesale were worth $9,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after buying an additional 473,702 shares during the period. Capital World Investors increased its position in shares of Costco Wholesale by 8.1% during the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock worth $2,802,147,000 after buying an additional 285,533 shares during the period. Legal & General Group Plc increased its position in shares of Costco Wholesale by 2.5% during the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after buying an additional 88,550 shares during the period. Fisher Asset Management LLC increased its position in shares of Costco Wholesale by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock worth $1,842,241,000 after buying an additional 81,853 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Costco Wholesale by 28.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after acquiring an additional 338,780 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction 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 sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the transaction, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $2,844,768.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 6,674 shares of company stock worth $5,831,324 over the last quarter. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 1.7 %

Shares of COST opened at $893.63 on Friday. The company has a market cap of $396.17 billion, a PE ratio of 53.93, a P/E/G ratio of 5.53 and a beta of 0.80. The business has a fifty day moving average of $879.92 and a 200 day moving average of $825.10. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COST shares. Loop Capital increased their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research note on Tuesday, September 24th. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and increased their target price for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Finally, Melius Research started coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $886.74.

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.