Venturi Wealth Management LLC Reduces Position in Costco Wholesale Corporation (COST)
Venturi Wealth Management LLC lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,381 shares of the retailer’s stock after selling 1,584 shares during the period. Costco Wholesale Corporation accounts for approximately 1.5% of Venturi Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. Venturi Wealth Management LLC’s holdings in Costco Wholesale Corporation were worth $6,618,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Waldron LP acquired a new position in Costco Wholesale Corporation in the 1st quarter valued at about $223,000. Daiwa Securities Group Inc. boosted its holdings in Costco Wholesale Corporation by 7.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 12,150 shares of the retailer’s stock valued at $2,037,000 after purchasing an additional 850 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Costco Wholesale Corporation by 26.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 4,660 shares of the retailer’s stock valued at $781,000 after purchasing an additional 962 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Costco Wholesale Corporation by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 5,102 shares of the retailer’s stock valued at $856,000 after purchasing an additional 79 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in Costco Wholesale Corporation by 2.7% in the 1st quarter. AMG National Trust Bank now owns 4,496 shares of the retailer’s stock valued at $754,000 after purchasing an additional 120 shares during the last quarter. 72.49% of the stock is owned by institutional investors.
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Costco Wholesale Corporation (COST) opened at 160.77 on Monday. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The stock has a market capitalization of $70.29 billion, a P/E ratio of 26.44 and a beta of 0.94. The company has a 50 day moving average of $160.74 and a 200-day moving average of $164.19.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current year.
In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the sale, the director now directly owns 6,974 shares of the company’s stock, valued at $1,099,032.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 3,000 shares of company stock worth $481,760 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on COST. UBS AG upgraded shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday. BidaskClub upgraded shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale Corporation in a report on Thursday, October 5th. Finally, BMO Capital Markets set a $160.00 target price on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a report on Saturday, October 7th. Eleven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $178.50.
About Costco Wholesale Corporation
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.
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