Envestnet Portfolio Solutions Inc. Increases Stock Holdings in Costco Wholesale Corporation $COST

Envestnet Portfolio Solutions Inc. raised its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,713 shares of the retailer’s stock after purchasing an additional 3,602 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Costco Wholesale were worth $30,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Astoria Portfolio Advisors LLC. grew its holdings in shares of Costco Wholesale by 3.9% during the second quarter. Astoria Portfolio Advisors LLC. now owns 1,184 shares of the retailer’s stock worth $1,106,000 after buying an additional 44 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Costco Wholesale by 7.8% during the second quarter. Sequoia Financial Advisors LLC now owns 75,561 shares of the retailer’s stock worth $74,801,000 after buying an additional 5,493 shares in the last quarter. Vest Financial LLC increased its holdings in Costco Wholesale by 10.8% in the second quarter. Vest Financial LLC now owns 25,653 shares of the retailer’s stock valued at $25,395,000 after buying an additional 2,507 shares during the last quarter. Pegasus Asset Management Inc. acquired a new stake in shares of Costco Wholesale during the second quarter worth $357,000. Finally, MGO One Seven LLC raised its position in shares of Costco Wholesale by 72.8% during the 2nd quarter. MGO One Seven LLC now owns 24,131 shares of the retailer’s stock worth $23,888,000 after purchasing an additional 10,163 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In related news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COST shares. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. The Goldman Sachs Group raised their price objective on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Truist Financial lowered their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Daiwa Capital Markets lowered their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Finally, Citigroup dropped their target price on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,066.23.

Costco Wholesale Trading Up 0.6%

COST stock opened at $935.56 on Tuesday. The business has a fifty day moving average price of $951.65 and a 200 day moving average price of $972.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The stock has a market capitalization of $414.62 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.15 EPS. Analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal 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.