Suntrust Banks Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,479 shares of the retailer’s stock after selling 10,050 shares during the quarter. Suntrust Banks Inc.’s holdings in Costco Wholesale were worth $40,289,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new stake in Costco Wholesale during the 3rd quarter valued at $102,000. Jacobus Wealth Management Inc. bought a new stake in Costco Wholesale during the 3rd quarter valued at $103,000. Shamrock Asset Management LLC increased its stake in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after purchasing an additional 418 shares in the last quarter. Zions Bancorporation increased its stake in Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after purchasing an additional 411 shares in the last quarter. Finally, Trustcore Financial Services LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $128,000. Institutional investors and hedge funds own 72.93% of the company’s stock.
Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $205.00 target price (down previously 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 for the company. 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, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $190.76.
In other Costco Wholesale news, Director James D. Sinegal sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $192.06, for a total transaction of $5,761,800.00. Following the sale, the director now directly owns 746,209 shares of the company’s stock, valued at $143,316,900.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Timothy L. Rose sold 12,000 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $184.46, for a total transaction of $2,213,520.00. Following the sale, the vice president now directly owns 22,903 shares in the company, valued at $4,224,687.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,859 shares of company stock worth $19,238,290. Insiders own 0.74% of the company’s stock.
COST traded down $2.29 during trading on Friday, hitting $183.96. 2,245,232 shares of the company traded hands, compared to its average volume of 2,582,557. The firm has a market cap of $81,409.94, a P/E ratio of 31.61, a PEG ratio of 2.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $199.88.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). The company had revenue of $33 billion for the quarter, compared to the consensus estimate of $32.73 billion. Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. Costco Wholesale’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. equities research analysts predict that Costco Wholesale Co. will post 6.77 earnings per share for the current fiscal 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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