BlackRock Inc. Grows Stake in Costco Wholesale Corporation (COST)
BlackRock Inc. grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,905,256 shares of the retailer’s stock after buying an additional 703,825 shares during the period. BlackRock Inc. owned 5.68% of Costco Wholesale Corporation worth $3,983,097,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Buckingham Asset Management LLC grew its stake in shares of Costco Wholesale Corporation by 15.9% during the first quarter. Buckingham Asset Management LLC now owns 2,651 shares of the retailer’s stock worth $445,000 after purchasing an additional 363 shares during the period. Heritage Trust Co acquired a new stake in shares of Costco Wholesale Corporation during the first quarter worth $771,000. Outfitter Advisors LTD. grew its stake in shares of Costco Wholesale Corporation by 1.0% during the first quarter. Outfitter Advisors LTD. now owns 22,195 shares of the retailer’s stock worth $3,722,000 after purchasing an additional 225 shares during the period. Norinchukin Bank The grew its stake in shares of Costco Wholesale Corporation by 41.7% during the first quarter. Norinchukin Bank The now owns 69,006 shares of the retailer’s stock worth $11,571,000 after purchasing an additional 20,299 shares during the period. Finally, AGF Investments Inc. grew its stake in shares of Costco Wholesale Corporation by 35.1% during the first quarter. AGF Investments Inc. now owns 428,304 shares of the retailer’s stock worth $71,784,000 after purchasing an additional 111,238 shares during the period. 72.76% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on COST shares. Vetr raised Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective for the company in a research note on Monday, August 21st. Deutsche Bank AG reaffirmed a “hold” rating and set a $172.00 price objective on shares of Costco Wholesale Corporation in a research note on Tuesday, September 5th. Citigroup Inc. reaffirmed a “buy” rating and set a $190.00 price objective (up from $187.00) on shares of Costco Wholesale Corporation in a research note on Monday, October 9th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $190.00 target price (up from $184.00) on shares of Costco Wholesale Corporation in a report on Friday, October 6th. Twelve analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $178.34.
Costco Wholesale Corporation (NASDAQ COST) opened at $171.44 on Wednesday. The firm has a market capitalization of $74,920.00, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.74 and a beta of 0.93. 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 Corporation has a 12-month low of $149.50 and a 12-month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. equities analysts forecast that Costco Wholesale Corporation will post 6.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 32.89%.
In other news, VP Dennis R. Zook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total value of $809,600.00. Following the transaction, the vice president now owns 626 shares of the company’s stock, valued at $101,361.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the transaction, the director now directly owns 6,974 shares in the company, valued at approximately $1,099,032.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,842 shares of company stock worth $5,128,658. Company insiders own 0.74% of the company’s stock.
Costco Wholesale Corporation 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.
Receive News & Stock Ratings for Costco Wholesale Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corporation and related stocks with our FREE daily email newsletter.