Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Red Mountain Financial LLC

Red Mountain Financial LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,633 shares of the retailer’s stock after selling 43 shares during the quarter. Costco Wholesale makes up about 1.5% of Red Mountain Financial LLC’s investment portfolio, making the stock its 19th biggest holding. Red Mountain Financial LLC’s holdings in Costco Wholesale were worth $1,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at about $32,000. Vima LLC acquired a new position in Costco Wholesale in the fourth quarter valued at approximately $34,000. Financial Connections Group Inc. grew its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $48,000. Finally, Ruedi Wealth Management Inc. boosted its position in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $889.03 on Friday. The stock’s fifty day simple moving average is $882.80 and its 200 day simple moving average is $826.67. The stock has a market capitalization of $394.14 billion, a price-to-earnings ratio of 55.08, a PEG ratio of 5.53 and a beta of 0.80. 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 Co. has a 52-week low of $540.23 and a 52-week high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its quarterly 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 firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the business posted $4.86 EPS. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction dated 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 approximately $7,671,983.70. This 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 this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale 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 sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,674 shares of company stock worth $5,831,324 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

COST has been the subject of several analyst reports. Oppenheimer boosted their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital boosted their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Evercore ISI raised their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $886.74.

About Costco Wholesale

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.