Horizon Investments LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,020 shares of the retailer’s stock, valued at approximately $516,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in COST. Brightworth lifted its position in shares of Costco Wholesale by 0.3% during the 2nd quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after buying an additional 4 shares in the last quarter. Pioneer Trust Bank N A OR lifted its position in shares of Costco Wholesale by 0.4% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after buying an additional 7 shares in the last quarter. SVA Plumb Wealth Management LLC lifted its position in shares of Costco Wholesale by 0.3% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after buying an additional 7 shares in the last quarter. Marshall & Sullivan Inc. WA lifted its position in shares of Costco Wholesale by 0.6% during the 1st quarter. Marshall & Sullivan Inc. WA now owns 1,590 shares of the retailer’s stock worth $272,000 after buying an additional 10 shares in the last quarter. Finally, CHICAGO TRUST Co NA lifted its position in shares of Costco Wholesale by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,515 shares of the retailer’s stock worth $402,000 after buying an additional 12 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on COST shares. Moffett Nathanson started coverage on shares of Costco Wholesale in a research note on Monday. They set a “buy” rating for the company. < J P Morgan Chase & Co restated a "buy" rating and set a $200.00 price target on shares of Costco Wholesale in a research note on Monday. Vetr lowered shares of Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 price target for the company. in a research note on Friday, December 1st. Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, November 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $179.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $179.50.
Costco Wholesale Co. (NASDAQ:COST) traded down $0.60 during midday trading on Wednesday, hitting $187.22. 3,563,712 shares of the stock were exchanged, compared to its average volume of 3,108,294. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $191.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. The company has a market cap of $82,835.75, a P/E ratio of 32.57, a P/E/G ratio of 3.02 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. sell-side analysts predict that Costco Wholesale Co. will post 6.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is presently 32.89%.
In other news, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the completion of the transaction, the chief financial officer now directly owns 35,225 shares of the company’s stock, valued at $6,021,713.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Libenson sold 2,350 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the transaction, the director now directly owns 4,109 shares of the company’s stock, valued at $665,658. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock valued at $5,520,848 over the last three months. 0.74% of the stock is currently owned by insiders.
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Costco Wholesale Company Profile
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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