FineMark National Bank & Trust increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,821 shares of the retailer’s stock after buying an additional 428 shares during the quarter. FineMark National Bank & Trust’s holdings in Costco Wholesale were worth $2,572,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of COST. Beach Investment Management LLC. acquired a new stake in Costco Wholesale during the second quarter worth approximately $3,569,000. State Board of Administration of Florida Retirement System grew its position in Costco Wholesale by 1.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 636,901 shares of the retailer’s stock worth $101,860,000 after buying an additional 6,220 shares in the last quarter. Peddock Capital Advisors LLC grew its position in Costco Wholesale by 59.1% during the second quarter. Peddock Capital Advisors LLC now owns 1,885 shares of the retailer’s stock worth $301,000 after buying an additional 700 shares in the last quarter. iAB Financial Bank grew its position in Costco Wholesale by 7.6% during the second quarter. iAB Financial Bank now owns 4,677 shares of the retailer’s stock worth $748,000 after buying an additional 331 shares in the last quarter. Finally, Boston Private Wealth LLC grew its position in Costco Wholesale by 30.4% during the second quarter. Boston Private Wealth LLC now owns 35,595 shares of the retailer’s stock worth $5,693,000 after buying an additional 8,306 shares in the last quarter. 72.06% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director James D. Sinegal sold 30,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $192.06, for a total value of $5,761,800.00. Following the completion of the transaction, the director now directly owns 746,209 shares in the company, valued at approximately $143,316,900.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the transaction, the director now owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock valued at $17,408,817 over the last quarter. 0.74% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on COST. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a research report on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $200.00 target price on shares of Costco Wholesale in a report on Monday, December 4th. Argus raised their target price on Costco Wholesale to $200.00 and gave the company a “buy” rating in a report on Monday, February 12th. Oppenheimer raised their target price on Costco Wholesale from $180.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, January 8th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Costco Wholesale in a report on Wednesday, November 22nd. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and an average price target of $190.36.
Costco Wholesale Co. (NASDAQ COST) opened at $191.56 on Friday. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $199.88. The company has a market capitalization of $84,079.99, a price-to-earnings ratio of 31.86, a PEG ratio of 3.13 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.98 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same period in the prior year, the company earned $1.24 EPS. Costco Wholesale’s revenue was up 13.2% compared to the same quarter last year. sell-side analysts predict that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 15th. Costco Wholesale’s payout ratio is 31.80%.
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Costco Wholesale Company 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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