Jennison Associates LLC Sells 1,450,520 Shares of Costco Wholesale Co. (NASDAQ:COST)

Jennison Associates LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,548,179 shares of the retailer’s stock after selling 1,450,520 shares during the period. Jennison Associates LLC owned approximately 0.81% of Costco Wholesale worth $582,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in shares of Costco Wholesale by 3,005.9% in the second quarter. Janus Henderson Group PLC now owns 4,180,770 shares of the retailer’s stock valued at $668,630,000 after purchasing an additional 4,046,164 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Costco Wholesale by 15,937.3% in the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock valued at $9,058,000 after purchasing an additional 1,439,613 shares in the last quarter. Capital World Investors increased its position in shares of Costco Wholesale by 6.0% in the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Costco Wholesale by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after acquiring an additional 937,121 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Costco Wholesale by 2.9% in the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares during the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.

COST has been the topic of a number of recent research reports. TheStreet raised Costco Wholesale from a “c” rating to a “b” rating in a research report on Monday, October 9th. Oppenheimer set a $185.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Friday, October 6th. Robert W. Baird set a $200.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Wednesday, October 4th. Vetr downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price target on the stock. in a research report on Wednesday, September 27th. Finally, Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, September 19th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $188.90.

Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $191.84 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market capitalization of $84,250.00, a P/E ratio of 30.50, a P/E/G ratio of 3.14 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.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. research analysts predict that Costco Wholesale Co. will post 6.61 EPS for the current year.

In other Costco Wholesale news, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $170.95, for a total transaction of $512,850.00. Following the completion of the sale, the chief financial officer now directly owns 35,225 shares in the company, valued at $6,021,713.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $191.62, for a total value of $958,100.00. Following the sale, the vice president now owns 32,880 shares of the company’s stock, valued at $6,300,465.60. The disclosure for this sale can be found here. Insiders have sold 87,027 shares of company stock valued at $15,872,935 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.

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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.

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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