Costco Wholesale Co. (COST) Shares Bought by Pittenger & Anderson Inc.
Pittenger & Anderson Inc. raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,393 shares of the retailer’s stock after purchasing an additional 765 shares during the period. Costco Wholesale accounts for 0.8% of Pittenger & Anderson Inc.’s holdings, making the stock its 28th biggest holding. Pittenger & Anderson Inc.’s holdings in Costco Wholesale were worth $8,635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new position in Costco Wholesale during the third quarter worth about $102,000. Jacobus Wealth Management Inc. purchased a new position in Costco Wholesale during the third quarter worth about $103,000. Assetmark Inc. boosted its holdings in Costco Wholesale by 137.0% during the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after purchasing an additional 326 shares during the last quarter. Shamrock Asset Management LLC boosted its holdings in 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 boosted its holdings in 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. Hedge funds and other institutional investors own 72.78% of the company’s stock.
Shares of Costco Wholesale stock opened at $186.07 on Thursday. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month 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 stock has a market cap of $82,212.98, a P/E ratio of 29.93, a PEG ratio of 2.81 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.81%.
Several research firms recently weighed in on COST. BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Friday, March 9th. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Royal Bank of Canada restated an “outperform” rating and set a $205.00 price target (down from $209.00) on shares of Costco Wholesale in a report on Thursday, March 8th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Friday, January 12th. Finally, Vetr upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a report on Thursday, January 4th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $190.76.
In related news, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $188.62, for a total transaction of $943,100.00. Following the sale, the insider now owns 30,853 shares of the company’s stock, valued at approximately $5,819,492.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $185.33, for a total transaction of $3,150,610.00. Following the sale, the vice president now directly owns 34,903 shares in the company, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. In the last three months, insiders sold 94,859 shares of company stock worth $17,963,130. Insiders own 0.58% of the company’s stock.
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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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