Northeast Investment Management increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 4.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,553 shares of the retailer’s stock after acquiring an additional 5,089 shares during the period. Costco Wholesale Corporation comprises approximately 1.7% of Northeast Investment Management’s portfolio, making the stock its 21st largest position. Northeast Investment Management’s holdings in Costco Wholesale Corporation were worth $18,161,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. State Street Corp lifted its stake in Costco Wholesale Corporation by 1.3% in the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after purchasing an additional 239,479 shares during the last quarter. FMR LLC lifted its stake in Costco Wholesale Corporation by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after purchasing an additional 177,200 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock worth $1,048,798,000 after purchasing an additional 79,201 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after purchasing an additional 1,753,741 shares during the last quarter. Finally, Janus Capital Management LLC lifted its stake in Costco Wholesale Corporation by 8.6% in the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after purchasing an additional 361,581 shares during the last quarter. Institutional investors own 72.41% of the company’s stock.
In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total value of $159,250.00. Following the sale, the director now directly owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares in the company, valued at $6,647,369.68. The disclosure for this sale can be found here. Insiders sold a total of 15,350 shares of company stock worth $2,474,960 over the last ninety days. Insiders own 0.74% of the company’s stock.
Costco Wholesale Corporation (NASDAQ COST) opened at 162.46 on Friday. The company’s 50-day moving average is $160.97 and its 200-day moving average is $164.02. The company has a market cap of $71.03 billion, a P/E ratio of 26.72 and a beta of 0.94. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the consensus estimate of $2.02 by $0.06. The business had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. On average, equities research analysts expect that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
Several research firms have weighed in on COST. Deutsche Bank AG set a $172.00 price target on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $185.00 to $160.00 in a research note on Monday, July 10th. Robert W. Baird reissued a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $173.00 price objective on shares of Costco Wholesale Corporation in a research note on Monday, October 9th. Finally, Zacks Investment Research raised shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, September 19th. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale Corporation presently has an average rating of “Buy” and an average target price of $178.50.
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Costco Wholesale Corporation 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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