Kovack Advisors Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,732 shares of the retailer’s stock, valued at approximately $695,000.
Other institutional investors have also made changes to their positions in the company. Almanack Investment Partners LLC. bought a new position in shares of Costco Wholesale during the second quarter worth about $101,000. Wealthcare Advisory Partners LLC bought a new position in shares of Costco Wholesale during the third quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new position in shares of Costco Wholesale during the third quarter worth about $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. Institutional investors own 70.87% of the company’s stock.
In related news, Director James D. Sinegal sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 746,209 shares in the company, valued at $143,316,900.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy L. Rose sold 5,000 shares of the firm’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 transaction of $966,000.00. Following the transaction, the vice president now owns 52,529 shares in the company, valued at approximately $10,148,602.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,185 shares of company stock worth $17,408,817. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion for 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 business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. sell-side analysts forecast that Costco Wholesale Co. will post 6.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.
Several brokerages have recently commented on COST. Vetr raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a research report on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $200.00 price target on shares of Costco Wholesale in a research report on Monday, December 4th. Argus increased their price target on shares of Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Oppenheimer increased their price target on shares of Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Costco Wholesale in a research report on Wednesday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $190.18.
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Costco Wholesale Company 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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