Inverness Counsel LLC NY Reduces Position in Costco Wholesale Co. (COST)

Inverness Counsel LLC NY lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 29.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,780 shares of the retailer’s stock after selling 1,555 shares during the period. Inverness Counsel LLC NY’s holdings in Costco Wholesale were worth $621,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COST. Vanguard Group Inc. raised its holdings in Costco Wholesale by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after buying an additional 937,121 shares during the last quarter. BlackRock Inc. raised its holdings in Costco Wholesale by 2.9% in the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after buying an additional 703,825 shares during the last quarter. Capital World Investors raised its holdings in Costco Wholesale by 6.0% in the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after buying an additional 1,007,720 shares during the last quarter. FMR LLC raised its holdings in Costco Wholesale by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after buying an additional 177,200 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Costco Wholesale by 2.3% in the second quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after buying an additional 207,675 shares during the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.

In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of the company’s 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 completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,842 shares of company stock valued at $5,520,848. 0.74% of the stock is owned by corporate insiders.

Several research analysts have issued reports on the stock. Moffett Nathanson assumed coverage on shares of Costco Wholesale in a report on Monday, December 4th. They issued a “buy” rating for the company. < Guggenheim reaffirmed a "neutral" rating on shares of Costco Wholesale in a report on Thursday, October 5th. Vetr cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 target price for the company. in a report on Wednesday, September 27th. BMO Capital Markets set a $160.00 target price on shares of Costco Wholesale and gave the stock a “hold” rating in a report on Saturday, October 7th. Finally, Stifel Nicolaus lifted their target price on shares of Costco Wholesale from $179.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. One 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 has an average rating of “Buy” and a consensus price target of $179.50.

Shares of Costco Wholesale Co. (COST) opened at $188.30 on Wednesday. Costco Wholesale Co. has a twelve month low of $150.00 and a twelve month high of $191.22. The company has a market cap of $82,184.63, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98. 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 (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. equities research analysts predict that Costco Wholesale Co. will post 6.47 EPS for the current year.

The firm also recently announced 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. The ex-dividend date was Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Costco Wholesale’s dividend payout ratio is currently 32.89%.

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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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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