Ontario Teachers Pension Plan Board Increases Stake in Costco Wholesale Co. (COST)
Ontario Teachers Pension Plan Board increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 89.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,379 shares of the retailer’s stock after buying an additional 1,121 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Costco Wholesale were worth $497,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Costco Wholesale in the second quarter valued at about $103,000. Well Done LLC purchased a new position in Costco Wholesale in the first quarter valued at about $109,000. Trilogy Capital Inc. purchased a new position in Costco Wholesale in the first quarter valued at about $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Costco Wholesale in the second quarter valued at about $119,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Costco Wholesale by 82.9% in the first quarter. Harvest Fund Management Co. Ltd now owns 737 shares of the retailer’s stock valued at $138,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.
Costco Wholesale stock opened at $241.46 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47. Costco Wholesale Co. has a 52 week low of $154.11 and a 52 week high of $242.95. The stock has a market cap of $103.79 billion, a P/E ratio of 36.08, a PEG ratio of 2.58 and a beta of 0.95.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $233.14, for a total transaction of $699,420.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at $2,017,593.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Murphy sold 15,000 shares of Costco Wholesale stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $219.22, for a total value of $3,288,300.00. Following the sale, the vice president now directly owns 33,834 shares of the company’s stock, valued at approximately $7,417,089.48. The disclosure for this sale can be found here. Insiders have sold 41,491 shares of company stock valued at $8,868,047 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.
COST has been the topic of several analyst reports. ValuEngine upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Wells Fargo & Co lifted their target price on Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Loop Capital assumed coverage on Costco Wholesale in a research note on Wednesday, May 16th. They issued a “buy” rating and a $224.00 target price on the stock. Finally, Robert W. Baird raised their price target on Costco Wholesale from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $217.25.
Costco Wholesale Profile
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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