Princeton Capital Management LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,185 shares of the retailer’s stock, valued at approximately $779,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Wealthcare Advisory Partners LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new stake in shares of Costco Wholesale during the 3rd quarter worth about $103,000. Shamrock Asset Management LLC boosted its stake in shares of Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after acquiring an additional 418 shares in the last quarter. Zions Bancorporation boosted its stake in shares of Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after acquiring an additional 411 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter worth about $120,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.
In other Costco Wholesale news, VP Paul G. Moulton sold 11,674 shares of the company’s 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 transaction, the vice president now owns 33,573 shares of the company’s stock, valued at approximately $6,344,625.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Timothy L. Rose sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $185.33, for a total value of $3,150,610.00. Following the completion of the transaction, the vice president now directly owns 34,903 shares of the company’s stock, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,859 shares of company stock valued at $22,789,730. Insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.03). The firm 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 company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. equities research analysts expect that Costco Wholesale Co. will post 6.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were issued a $0.50 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.00 annualized dividend and a yield of 1.08%. Costco Wholesale’s dividend payout ratio (DPR) is 29.81%.
Several analysts have recently issued reports on COST shares. Oppenheimer upped their price target on Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. BMO Capital Markets upgraded Costco Wholesale from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $192.73 to $215.00 in a research note on Monday, December 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $200.00 price target on shares of Costco Wholesale in a research note on Monday, December 4th. Morgan Stanley set a $175.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research note on Friday, December 15th. Finally, Argus increased their target price on Costco Wholesale to $200.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $190.76.
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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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