Pinnacle Associates Ltd. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,103 shares of the retailer’s stock after selling 929 shares during the period. Pinnacle Associates Ltd.’s holdings in Costco Wholesale were worth $5,789,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC bought a new position in shares of Costco Wholesale during the 3rd quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new position in shares of Costco Wholesale during the 3rd quarter worth about $103,000. Shamrock Asset Management LLC increased its holdings 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 purchasing an additional 418 shares during the period. Zions Bancorporation increased its stake in Costco Wholesale by 148.4% in the third quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after acquiring an additional 411 shares during the period. Finally, Trustcore Financial Services LLC bought a new stake in Costco Wholesale in the fourth quarter valued at about $128,000. 72.78% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 9th. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Royal Bank of Canada reissued 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. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 target price on the stock in a research note on Friday, January 12th. Finally, Vetr raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 target price on the stock in a research note on Thursday, January 4th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $190.76.
Shares of Costco Wholesale stock traded down $1.74 during midday trading on Thursday, reaching $184.33. 1,155,130 shares of the company traded hands, compared to its average volume of 2,586,859. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $199.88. 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 firm has a market capitalization of $82,212.98, a price-to-earnings ratio of 27.51, a P/E/G ratio of 2.81 and a beta of 0.97.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The firm had revenue of $33 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same period in the previous year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. equities research analysts anticipate that Costco Wholesale Co. will post 6.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, February 15th. Costco Wholesale’s dividend payout ratio is 29.81%.
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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