Montrusco Bolton Investments Inc. reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 25.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,058 shares of the retailer’s stock after selling 18,905 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Costco Wholesale were worth $8,871,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its stake in shares of Costco Wholesale by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after acquiring an additional 129,106 shares during the period. Mechanics Bank Trust Department grew its stake in shares of Costco Wholesale by 4.8% in the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock worth $5,366,000 after acquiring an additional 1,529 shares during the period. Cadinha & Co. LLC grew its stake in shares of Costco Wholesale by 7.3% in the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after acquiring an additional 8,518 shares during the period. Stephens Inc. AR grew its stake in shares of Costco Wholesale by 3.1% in the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after acquiring an additional 1,350 shares during the period. Finally, Intersect Capital LLC grew its stake in shares of Costco Wholesale by 143.4% in the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock worth $861,000 after acquiring an additional 3,171 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.
Costco Wholesale Co. (COST) opened at $188.07 on Monday. 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 1-year low of $150.00 and a 1-year high of $191.22. The firm has a market cap of $82,180.00, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last issued its quarterly 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 business had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. equities research analysts forecast that Costco Wholesale Co. will post 6.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is currently 32.89%.
In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the transaction, the chief financial officer now directly owns 35,225 shares in the company, valued at approximately $6,021,713.75. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock worth $5,520,848 in the last ninety days. Insiders own 0.74% of the company’s stock.
COST has been the subject of a number of research analyst reports. Deutsche Bank reiterated a “hold” rating and issued a $172.00 price target on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup lifted their price target on shares of Costco Wholesale from $155.00 to $187.00 and gave the stock a “hold” rating in a research note on Friday, October 6th. Oppenheimer reiterated a “buy” rating and issued a $185.00 price target on shares of Costco Wholesale in a research note on Thursday, August 31st. Morgan Stanley downgraded shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $179.50.
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Costco Wholesale 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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