Bridges Investment Management Inc. Raises Position in Costco Wholesale Co. (COST)
Bridges Investment Management Inc. increased its position in Costco Wholesale Co. (NASDAQ:COST) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,271 shares of the retailer’s stock after purchasing an additional 1,050 shares during the quarter. Bridges Investment Management Inc.’s holdings in Costco Wholesale were worth $866,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in Costco Wholesale by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after purchasing an additional 129,106 shares during the period. Mechanics Bank Trust Department raised its stake in Costco Wholesale by 4.8% during the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock worth $5,366,000 after acquiring an additional 1,529 shares in the last quarter. Cadinha & Co. LLC raised its stake in Costco Wholesale by 7.3% during the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after acquiring an additional 8,518 shares in the last quarter. Stephens Inc. AR raised its stake in Costco Wholesale by 3.1% during the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Intersect Capital LLC raised its stake in Costco Wholesale by 143.4% during the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock worth $861,000 after acquiring an additional 3,171 shares in the last quarter. 71.49% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the transaction, the director now owns 8,654 shares in the company, valued at approximately $1,585,932.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the transaction, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,842 shares of company stock worth $5,520,848. Company insiders own 0.74% of the company’s stock.
Several research firms have issued reports on COST. Vetr lowered Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 price objective for the company. in a research note on Friday, December 1st. Moffett Nathanson began coverage on Costco Wholesale in a research note on Monday, December 4th. They set a “buy” rating for the company. < Guggenheim reiterated a "neutral" rating on shares of Costco Wholesale in a research note on Thursday, October 5th. Stifel Nicolaus increased their price objective on Costco Wholesale from $179.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, November 30th. Finally, BMO Capital Markets set a $160.00 price objective on Costco Wholesale and gave the stock a "hold" rating in a research note on Saturday, October 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of "Buy" and an average price target of $179.50.
Costco Wholesale Co. (NASDAQ COST) opened at $188.07 on Friday. The stock has a market capitalization of $81,367.46, a PE ratio of 31.99, a P/E/G ratio of 3.02 and a beta of 0.98. Costco Wholesale Co. has a 1-year low of $150.00 and a 1-year high of $191.22. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter last year, the business earned $1.77 earnings per share. The company’s revenue was up 15.7% compared to the same quarter last year. equities analysts forecast that Costco Wholesale Co. will post 6.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio (DPR) is currently 32.89%.
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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