Welch & Forbes LLC trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 116,127 shares of the retailer’s stock after selling 1,816 shares during the quarter. Welch & Forbes LLC’s holdings in Costco Wholesale were worth $21,614,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new stake in Costco Wholesale during the 3rd quarter valued at $102,000. Jacobus Wealth Management Inc. bought a new stake in Costco Wholesale during the 3rd quarter valued at $103,000. Almanack Investment Partners LLC. bought a new stake in Costco Wholesale during the 2nd quarter valued at $101,000. Shamrock Asset Management LLC raised its holdings in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after buying an additional 418 shares during the last quarter. Finally, Zions Bancorporation raised its holdings in Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after buying an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 72.06% of the company’s stock.
In related news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $193.41, for a total transaction of $580,230.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,673,770.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Sinegal sold 30,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $192.06, for a total transaction of $5,761,800.00. Following the sale, the director now directly owns 746,209 shares in the company, valued at $143,316,900.54. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock worth $17,408,817 over the last ninety days. Insiders own 0.58% of the company’s stock.
COST has been the subject of a number of recent analyst reports. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Vetr upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a report on Monday, February 5th. Moffett Nathanson started coverage on shares of Costco Wholesale in a report on Monday, December 4th. They issued a “buy” rating for the company. < Oppenheimer upped their price objective on shares of Costco Wholesale from $180.00 to $210.00 and gave the stock an "outperform" rating in a report on Monday, January 8th. Finally, Guggenheim restated a "hold" rating on shares of Costco Wholesale in a report on Wednesday, November 22nd. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of "Buy" and an average price target of $190.36.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $187.35 on Thursday. The firm has a market cap of $82,280.00, a PE ratio of 29.79, a PEG ratio of 2.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $199.88.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $31.81 billion for the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. research analysts anticipate that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 15th. Costco Wholesale’s dividend payout ratio is presently 31.80%.
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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