Oak Grove Capital LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,425 shares of the retailer’s stock, valued at approximately $1,382,000. Costco Wholesale accounts for about 1.4% of Oak Grove Capital LLC’s investment portfolio, making the stock its 19th largest holding.
A number of other large investors have also modified their holdings of COST. Wealthcare Advisory Partners LLC purchased a new stake in Costco Wholesale during the third quarter worth about $102,000. Jacobus Wealth Management Inc. purchased a new stake in Costco Wholesale during the third quarter worth about $103,000. Shamrock Asset Management LLC increased its stake in 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 period. Zions Bancorporation increased its stake in 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 period. Finally, American Beacon Advisors Inc. purchased a new stake in Costco Wholesale during the fourth quarter worth about $120,000. Institutional investors own 72.79% of the company’s stock.
A number of brokerages have issued reports on COST. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 price target (down from $209.00) on shares of Costco Wholesale in a research note on Thursday, March 8th. Vetr lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $195.68 target price on the stock. in a research note on Tuesday, February 20th. Argus upped their target price on shares of Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, BMO Capital Markets set a $223.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $190.76.
In other news, VP Paul G. Moulton sold 11,674 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $188.98, for a total value of $2,206,152.52. Following the completion of the sale, the vice president now directly owns 33,573 shares of the company’s stock, valued at $6,344,625.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Libenson sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 3,919 shares of the company’s stock, valued at $756,484.57. The disclosure for this sale can be found here. Insiders sold 119,859 shares of company stock valued at $22,789,730 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
Costco Wholesale Co. (COST) opened at $185.87 on Friday. The company has a quick ratio of 0.44, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $81,563.47, a P/E ratio of 29.69, a P/E/G ratio of 2.77 and a beta of 0.97. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $199.88.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.03). The business had revenue of $33 billion during the quarter, compared to analyst estimates of $32.73 billion. Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. equities analysts anticipate that Costco Wholesale Co. will post 6.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is 29.81%.
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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.
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