Carnegie Investment Counsel Has $31.49 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Carnegie Investment Counsel decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,521 shares of the retailer’s stock after selling 117 shares during the period. Costco Wholesale comprises 0.9% of Carnegie Investment Counsel’s portfolio, making the stock its 24th largest holding. Carnegie Investment Counsel’s holdings in Costco Wholesale were worth $31,490,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fermata Advisors LLC grew its stake in shares of Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after buying an additional 11 shares in the last quarter. Oak Asset Management LLC grew its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after acquiring an additional 12 shares during the period. Peddock Capital Advisors LLC increased its stake 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 purchasing an additional 12 shares during the last quarter. Perkins Coie Trust Co raised its holdings in shares of Costco Wholesale by 0.3% in 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 period. Finally, Bedel Financial Consulting Inc. lifted its stake in Costco Wholesale by 1.3% in 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. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now 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 a total of 6,674 shares of company stock worth $5,831,324 in the last quarter. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $889.03 on Friday. The stock has a market cap of $394.14 billion, a PE ratio of 55.08, a P/E/G 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 12-month low of $540.23 and a 12-month high of $923.83. The business’s 50-day moving average price is $882.80 and its two-hundred day moving average price is $827.34.

Costco Wholesale (NASDAQ:COST) last announced its quarterly 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the prior year, the business earned $4.86 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts expect that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America upped 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. Melius Research began coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Morgan Stanley upped their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Tigress Financial lifted 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. Finally, Loop Capital increased their price target 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. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus 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.