Acadian Asset Management LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,484 shares of the retailer’s stock after selling 101,455 shares during the quarter. Acadian Asset Management LLC owned about 0.07% of Costco Wholesale worth $53,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Almanack Investment Partners LLC. purchased a new position in Costco Wholesale during the second quarter worth $101,000. Wealthcare Advisory Partners LLC purchased a new position in Costco Wholesale during the third quarter worth $102,000. Jacobus Wealth Management Inc. purchased a new position in Costco Wholesale during the third quarter worth $103,000. Shamrock Asset Management LLC lifted its position in shares of Costco Wholesale by 171.3% during the third quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares during the last quarter. Finally, Zions Bancorporation lifted its position in shares of Costco Wholesale by 148.4% during the third quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares during the last quarter. 72.06% of the stock is owned by institutional investors and hedge funds.
In other Costco Wholesale news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the transaction, the director now directly owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $193.20, for a total value of $966,000.00. Following the completion of the transaction, the vice president now directly owns 52,529 shares of the company’s stock, valued at $10,148,602.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,185 shares of company stock worth $17,408,817. 0.58% of the stock is owned by insiders.
Several analysts have recently weighed in on COST shares. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, January 5th. Vetr upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 target price for the company in a research report on Monday, February 5th. Moffett Nathanson started coverage on Costco Wholesale in a research report on Monday, December 4th. They set a “buy” rating for the company. < Oppenheimer lifted their price objective on Costco Wholesale from $180.00 to $210.00 and gave the company an "outperform" rating in a report on Monday, January 8th. Finally, Guggenheim restated a "hold" rating on shares of Costco Wholesale in a report on Wednesday, November 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of "Buy" and an average target price of $190.36.
Shares of Costco Wholesale Co. (NASDAQ COST) opened at $181.06 on Tuesday. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $199.88. The firm has a market capitalization of $79,355.22, a PE ratio of 30.07, a PEG ratio of 2.95 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. research analysts forecast that Costco Wholesale Co. will post 6.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. Costco Wholesale’s dividend payout ratio is currently 31.80%.
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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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