TAM Capital Management Inc. Acquires Shares of 27,433 Costco Wholesale Co. (COST)

TAM Capital Management Inc. bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 27,433 shares of the retailer’s stock, valued at approximately $4,387,000. Costco Wholesale comprises about 9.2% of TAM Capital Management Inc.’s holdings, making the stock its 4th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harbour Capital Advisors LLC lifted its stake in shares of Costco Wholesale by 15,937.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock worth $9,058,000 after acquiring an additional 1,439,613 shares during the period. Vanguard Group Inc. lifted its stake in shares of Costco Wholesale by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. BlackRock Inc. lifted its stake in shares of Costco Wholesale by 2.9% in the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after acquiring an additional 703,825 shares during the period. Magellan Asset Management Ltd increased its holdings in shares of Costco Wholesale by 13.9% in the 1st quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock valued at $732,000,000 after purchasing an additional 532,896 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Costco Wholesale by 76.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,221,685 shares of the retailer’s stock valued at $195,385,000 after purchasing an additional 527,746 shares in the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on COST. Moffett Nathanson began coverage on shares of Costco Wholesale in a report on Monday. They issued a “buy” rating for the company. < Vetr downgraded shares of Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 target price for the company. in a report on Friday, December 1st. Stifel Nicolaus raised their target price on shares of Costco Wholesale from $179.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 30th. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a report on Thursday, October 5th. Finally, Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $179.50.

In related news, VP Dennis R. Zook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $161.92, for a total value of $809,600.00. Following the completion of the sale, the vice president now owns 626 shares of the company’s stock, valued at $101,361.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,150,152.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,842 shares of company stock valued at $5,520,848. Corporate insiders own 0.74% of the company’s stock.

Shares of Costco Wholesale Co. (NASDAQ COST) opened at $187.82 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $191.22. The firm has a market cap of $82,835.75, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.02 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities research analysts forecast that Costco Wholesale Co. will post 6.46 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio (DPR) is 32.89%.

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About Costco Wholesale

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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