Presidio Capital Management LLC Takes $371,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Presidio Capital Management LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 437 shares of the retailer’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oak Asset Management LLC raised its position in Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC lifted its position in Costco Wholesale by 0.7% in 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 last quarter. Bedel Financial Consulting Inc. boosted its stake in Costco Wholesale by 1.3% in the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after buying an additional 13 shares in the last quarter. Boltwood Capital Management grew its position in Costco Wholesale by 1.7% during the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after acquiring an additional 13 shares during the last quarter. Finally, LifePro Asset Management raised its stake in shares of Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COST. Tigress Financial upped their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Loop Capital upped their price target on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Bank of America raised their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Robert W. Baird boosted their target price on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets raised their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $824.50.

Costco Wholesale Stock Down 2.3 %

COST traded down $20.85 during trading on Wednesday, hitting $888.05. 1,664,873 shares of the company’s stock traded hands, compared to its average volume of 1,964,828. The stock has a market capitalization of $393.70 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 5.84 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 12-month low of $534.34 and a 12-month high of $918.93. The company’s 50 day simple moving average is $852.49 and its two-hundred day simple moving average is $791.51.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter in the prior year, the firm earned $3.43 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insiders Place Their Bets

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold a total of 4,970 shares of company stock worth $4,249,526 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale 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.