Ipswich Investment Management Co. Inc. Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Ipswich Investment Management Co. Inc. cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,627 shares of the retailer’s stock after selling 952 shares during the period. Costco Wholesale makes up 1.6% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 16th largest holding. Ipswich Investment Management Co. Inc.’s holdings in Costco Wholesale were worth $4,738,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bluefin Trading LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth about $3,440,000. Advisory Alpha LLC boosted its stake in shares of Costco Wholesale by 14.7% during the 4th quarter. Advisory Alpha LLC now owns 398 shares of the retailer’s stock worth $119,000 after purchasing an additional 51 shares during the period. AQR Capital Management LLC boosted its stake in shares of Costco Wholesale by 14.4% during the 4th quarter. AQR Capital Management LLC now owns 845,766 shares of the retailer’s stock worth $248,537,000 after purchasing an additional 106,351 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Costco Wholesale by 9.2% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,427 shares of the retailer’s stock valued at $4,399,000 after buying an additional 1,300 shares in the last quarter. Finally, Archer Investment Corp bought a new stake in Costco Wholesale during the 4th quarter valued at about $127,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

COST has been the subject of a number of research analyst reports. Nomura Securities reiterated a “hold” rating and set a $310.00 price objective on shares of Costco Wholesale in a report on Monday, April 13th. Deutsche Bank lifted their price objective on shares of Costco Wholesale from $297.00 to $298.00 and gave the company a “hold” rating in a report on Thursday. Credit Suisse Group reiterated a “hold” rating on shares of Costco Wholesale in a report on Thursday, June 4th. Guggenheim reiterated a “hold” rating on shares of Costco Wholesale in a report on Monday, June 29th. Finally, Citigroup assumed coverage on shares of Costco Wholesale in a report on Tuesday, April 14th. They issued a “neutral” rating and a $310.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $322.13.

NASDAQ:COST traded up $6.19 during trading hours on Thursday, hitting $322.51. 17,753 shares of the company were exchanged, compared to its average volume of 2,499,719. The stock has a market capitalization of $139.62 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 4.46 and a beta of 0.68. Costco Wholesale Co. has a 52-week low of $262.71 and a 52-week high of $325.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 0.63. The company’s 50 day moving average price is $304.01 and its 200-day moving average price is $303.21.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.03). The company had revenue of $36.45 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. On average, equities analysts predict that Costco Wholesale Co. will post 8.44 earnings per share for the current year.

In other news, Director Susan L. Decker sold 1,000 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $314.83, for a total value of $314,830.00. Following the sale, the director now directly owns 32,582 shares of the company’s stock, valued at approximately $10,257,791.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 1,155 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $302.57, for a total transaction of $349,468.35. Following the completion of the sale, the director now directly owns 29,432 shares in the company, valued at $8,905,240.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,650 shares of company stock worth $8,208,438. 0.22% of the stock is owned by insiders.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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