Whittier Trust Co. of Nevada Inc. boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,378 shares of the retailer’s stock after acquiring an additional 954 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Costco Wholesale were worth $2,526,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in COST. Janus Henderson Group PLC boosted its holdings in Costco Wholesale by 3,005.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,180,770 shares of the retailer’s stock valued at $668,630,000 after acquiring an additional 4,046,164 shares during the period. Harbour Capital Advisors LLC boosted its holdings in Costco Wholesale by 15,937.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock valued at $9,058,000 after acquiring an additional 1,439,613 shares during the period. Capital World Investors boosted its holdings in Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after acquiring an additional 937,121 shares during the period. Finally, BlackRock Inc. boosted its holdings in Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares during the period. Institutional investors own 71.49% of the company’s stock.
COST has been the subject of several recent research reports. Deutsche Bank reiterated a “hold” rating and issued a $172.00 price objective on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup lifted their price objective on Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a research note on Friday, October 6th. Oppenheimer reiterated a “buy” rating and issued a $185.00 price objective on shares of Costco Wholesale in a research note on Thursday, August 31st. Morgan Stanley cut Costco Wholesale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Zacks Investment Research cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $180.05.
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 stock was 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $183.26, for a total value of $549,780.00. Following the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $1,585,932.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,842 shares of company stock valued at $5,520,848. 0.74% of the stock is owned by company insiders.
Shares of Costco Wholesale Co. (NASDAQ COST) opened at $186.53 on Friday. The firm has a market capitalization of $82,285.14, a P/E ratio of 32.35, a P/E/G ratio of 3.06 and a beta of 0.98. 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 quick ratio of 0.43 and a current ratio of 0.99.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. analysts forecast that Costco Wholesale Co. will post 6.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s payout ratio is 32.89%.
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.
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