Walter & Keenan Financial Consulting Co. MI ADV Takes $312,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Walter & Keenan Financial Consulting Co. MI ADV acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,900 shares of the retailer’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobus Wealth Management Inc. acquired a new stake in Costco Wholesale in the third quarter valued at $103,000. Almanack Investment Partners LLC. purchased a new position in shares of Costco Wholesale during the second quarter worth about $101,000. Northwest Investment Counselors LLC purchased a new position in shares of Costco Wholesale during the second quarter worth about $107,000. Mercer Capital Advisers Inc. grew its holdings in shares of Costco Wholesale by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after purchasing an additional 23 shares during the last quarter. Finally, Smithfield Trust Co. grew its holdings in shares of Costco Wholesale by 150.2% during the third quarter. Smithfield Trust Co. now owns 808 shares of the retailer’s stock worth $133,000 after purchasing an additional 485 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Shares of Costco Wholesale Co. (COST) opened at $191.84 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43. The company has a market cap of $84,250.00, a PE ratio of 30.50, a P/E/G ratio of 3.18 and a beta of 0.98. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $195.35.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same period last year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. equities analysts forecast that Costco Wholesale Co. will post 6.61 EPS for the current year.

In other news, VP Timothy L. Rose sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $193.20, for a total transaction of $966,000.00. Following the completion of the sale, the vice president now directly owns 52,529 shares in the company, valued at approximately $10,148,602.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Roland Michael Vachris sold 5,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $187.98, for a total transaction of $977,496.00. Following the sale, the vice president now owns 15,694 shares of the company’s stock, valued at $2,950,158.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,027 shares of company stock valued at $15,872,935. Insiders own 0.58% of the company’s stock.

Several equities analysts have issued reports on the company. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective on the stock in a report on Thursday, January 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $173.00 price objective on shares of Costco Wholesale in a report on Monday, October 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a report on Monday, December 4th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, September 19th. Finally, Bank of America reissued a “buy” rating and set a $192.00 price target on shares of Costco Wholesale in a report on Monday, October 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $188.90.

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Costco Wholesale Profile

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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