Logan Capital Management Inc. lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,577 shares of the retailer’s stock after selling 610 shares during the period. Logan Capital Management Inc.’s holdings in Costco Wholesale were worth $852,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. Capital World Investors grew its holdings in Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. Capital Research Global Investors grew its holdings in Costco Wholesale by 2.3% during the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after acquiring an additional 207,675 shares during the period. Bank of New York Mellon Corp grew its holdings in Costco Wholesale by 14.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock worth $1,118,138,000 after acquiring an additional 858,969 shares during the period. Finally, Jennison Associates LLC grew its holdings in Costco Wholesale by 86.3% during the 4th quarter. Jennison Associates LLC now owns 6,611,043 shares of the retailer’s stock worth $1,230,447,000 after acquiring an additional 3,062,864 shares during the period. 72.93% of the stock is owned by institutional investors and hedge funds.
In other news, VP Roland Michael Vachris sold 5,200 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $187.98, for a total value of $977,496.00. Following the sale, the vice president now directly owns 15,694 shares of the company’s stock, valued at approximately $2,950,158.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $185.33, for a total transaction of $3,150,610.00. Following the completion of the sale, the vice president now directly owns 34,903 shares in the company, valued at $6,468,572.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,859 shares of company stock worth $19,238,290. 0.74% of the stock is owned by insiders.
COST has been the subject of several research analyst reports. Vetr raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a report on Thursday, January 4th. Barclays reissued a “buy” rating and issued a $208.00 price target on shares of Costco Wholesale in a report on Tuesday, December 19th. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, December 15th. Cowen set a $214.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, December 15th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $200.00 price target (up previously from $185.00) on shares of Costco Wholesale in a report on Friday, December 15th. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $191.39.
NASDAQ:COST traded down $2.29 on Friday, hitting $183.96. 2,259,047 shares of the company’s stock were exchanged, compared to its average volume of 2,338,814. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.44. The stock has a market capitalization of $80,725.33, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.96. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $199.88.
Costco Wholesale (NASDAQ:COST) last issued its 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 firm had revenue of $33 billion during 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%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. analysts anticipate that Costco Wholesale Co. will post 6.77 earnings per share for the current fiscal year.
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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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