Northern Capital Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,205 shares of the retailer’s stock, valued at approximately $1,512,000.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Costco Wholesale by 2.9% during the 2nd 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. increased its holdings 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 valued at $3,983,097,000 after purchasing an additional 703,825 shares in the last quarter. Capital World Investors increased its holdings in shares of Costco Wholesale by 6.0% in the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after purchasing an additional 1,007,720 shares in the last quarter. FMR LLC increased its holdings in shares of Costco Wholesale by 1.5% in the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock valued at $2,028,898,000 after purchasing an additional 177,200 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Costco Wholesale by 2.3% in the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after purchasing an additional 207,675 shares in the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.
In related news, insider John D. Mckay sold 8,111 shares of Costco Wholesale stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the sale, the insider now directly owns 66,751 shares in the company, valued at $11,533,237.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction of $802,900.00. Following the sale, the vice president now owns 41,396 shares in the company, valued at $6,647,369.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,027 shares of company stock valued at $15,872,935. Corporate insiders own 0.58% of the company’s stock.
Costco Wholesale Co. (NASDAQ:COST) traded up $2.46 during trading on Friday, reaching $191.84. 3,498,938 shares of the company’s stock were exchanged, compared to its average volume of 3,230,000. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $195.35. The firm has a market capitalization of $84,250.00, a P/E ratio of 30.50, a PEG ratio of 3.12 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. research analysts predict that Costco Wholesale Co. will post 6.59 EPS for the current year.
A number of equities analysts have recently issued reports on COST shares. Citigroup increased their price target on shares of Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a report on Friday, October 6th. Morgan Stanley cut shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $190.00 to $165.00 in a research note on Friday, October 6th. Zacks Investment Research cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Friday, October 20th. Finally, Wells Fargo & Co set a $170.00 price target on shares of Costco Wholesale and gave the stock a “hold” rating in a research note on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $188.90.
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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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