Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 23.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,957 shares of the retailer’s stock after acquiring an additional 8,180 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Costco Wholesale were worth $7,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new position in Costco Wholesale during the 2nd quarter valued at approximately $101,000. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale during the 2nd quarter valued at $107,000. Mercer Capital Advisers Inc. boosted its stake in Costco Wholesale by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after purchasing an additional 23 shares during the last quarter. Ledyard National Bank boosted its stake in shares of Costco Wholesale by 19.1% in the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after buying an additional 130 shares during the last quarter. Finally, Bruderman Asset Management LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter worth $139,000. Institutional investors own 70.91% of the company’s stock.
A number of research firms have recently issued reports on COST. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a report on Thursday, January 4th. Oppenheimer raised their price target on Costco Wholesale from $180.00 to $210.00 and gave the company an “outperform” rating in a report on Monday. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a report on Thursday, October 5th. Finally, BMO Capital Markets set a $160.00 target price on Costco Wholesale and gave the stock a “hold” rating in a report on Saturday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $188.90.
In other news, Director Richard M. Libenson sold 20,000 shares of Costco Wholesale stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $193.03, for a total value of $3,860,600.00. Following the sale, the director now owns 3,919 shares of the company’s stock, valued at $756,484.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dennis R. Zook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the sale, the vice president now directly owns 626 shares in the company, valued at approximately $101,361.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,027 shares of company stock worth $14,914,835. 0.58% of the stock is currently owned by company insiders.
Costco Wholesale Co. (NASDAQ COST) traded up $3.96 during mid-day trading on Thursday, reaching $189.38. 4,670,700 shares of the company’s stock were exchanged, compared to its average volume of 3,170,000. The firm has a market cap of $83,170.00, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $195.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, topping 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 23.39%. The firm had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. During the same period last year, the business earned $1.24 EPS. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts anticipate that Costco Wholesale Co. will post 6.59 earnings per share for the current year.
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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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