ETFs Are Net Sellers of Costco (COST) on Thursday

This article first appeared on GuruFocus .

Thirty-one ETFs were buying Costco ( COST ) shares on Thursday, Oct. 29, versus 24 selling, yet the sellers traded in larger amounts, leaving a net outflow of $75.6 million. The move snapped a two-day run of net buying that totaled $94.1 million on Oct. 28 and $25.3 million on Oct. 27. ETF activity had been mixed before that, with net selling of $96.9 million on Oct. 26 and $48.4 million on Oct. 23. The selling streak now stands at one day.

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Every ETF and guru trade in COST is tracked on the COST guru trades page .

Which ETFs sold COST on Thursday?

The largest sellers by dollar value were QQQ ($43.8 million), AVLV ($15.5 million) and SPY ($13.5 million). In all, 31 ETFs added shares and 24 cut them.

Invesco QQQ Trust ( QQQ ) accounted for the largest share of the move, cutting 43,968 shares worth $43.8 million, a 0.47% reduction in its stake at a 1.92% portfolio weight. American Century STOXX U.S. Quality Value ETF ( AVLV ) trimmed 15,538 shares for $15.5 million, and SPDR S&P 500 ETF Trust ( SPY ) sold 13,568 shares valued at $13.5 million. ProShares Ultra QQQ ( QLD ) reduced its position by 8,500 shares, or $8.5 million, while iShares Core S&P 500 ETF ( IVV ) shed 3,855 shares worth $3.8 million. Costco operates in the Consumer Defensive sector's Discount Stores industry and carries a market cap of $448.6 billion.

Have ETFs been buying or selling COST lately?

Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.

What does COST do?

Costco Wholesale operates membership warehouses based on the concept that offering low prices on a limited selection of nationally-branded and private-label products across a wide range of categories produces high sales volumes and rapid inventory turnover.

Costco reported trailing-12-month revenue of $303.15 billion, up 10.2% over the past year, with gross margin of 12.8% and net margin of 3.0%. The stock trades at a P/E of 48.76, P/B of 12.53 and P/S of 1.48. Its GF Score is 95, and the GF Value of $1,057.28 sits above the price of $1,012.28. The dividend yield is 0.57%, and the shares have returned 18.08% year to date.