Costco Wholesale Co. (COST) Stake Lifted by Korea Investment CORP
Korea Investment CORP lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,058 shares of the retailer’s stock after acquiring an additional 22,048 shares during the period. Korea Investment CORP owned 0.08% of Costco Wholesale worth $53,897,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in COST. Janus Henderson Group PLC lifted its holdings in shares of 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 worth $668,630,000 after acquiring an additional 4,046,164 shares during the period. Harbour Capital Advisors LLC increased its position 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 worth $9,058,000 after purchasing an additional 1,439,613 shares in the last quarter. Capital World Investors increased its position in Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after purchasing an additional 1,007,720 shares in the last quarter. Vanguard Group Inc. increased 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 purchasing an additional 937,121 shares in the last quarter. Finally, BlackRock Inc. increased its position in Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after purchasing an additional 703,825 shares in the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
In other news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock valued at $5,520,848 in the last ninety days. 0.74% of the stock is owned by corporate insiders.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.41%. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same quarter last year, the company earned $1.24 earnings per share. Costco Wholesale’s revenue for the quarter was up 13.2% on a year-over-year basis. equities research analysts forecast that Costco Wholesale Co. will post 6.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
COST has been the subject of a number of research analyst reports. Deutsche Bank reissued a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a research report on Tuesday, September 5th. Citigroup increased their target price on shares of Costco Wholesale from $155.00 to $187.00 and gave the stock a “hold” rating in a research report on Friday, October 6th. Oppenheimer reissued a “buy” rating and set a $185.00 target price on shares of Costco Wholesale in a research report on Thursday, August 31st. Morgan Stanley downgraded shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. Costco Wholesale currently has an average rating of “Buy” and an average target price of $184.20.
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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