Costco Wholesale Co. (COST) Shares Sold by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,814 shares of the retailer’s stock after selling 21,390 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Costco Wholesale were worth $34,025,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in Costco Wholesale by 3,005.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,180,770 shares of the retailer’s stock worth $668,630,000 after acquiring an additional 4,046,164 shares during the period. Jennison Associates LLC boosted its position in Costco Wholesale by 86.3% during the 4th quarter. Jennison Associates LLC now owns 6,611,043 shares of the retailer’s stock worth $1,230,447,000 after acquiring an additional 3,062,864 shares during the period. Fisher Asset Management LLC boosted its position in Costco Wholesale by 2,114.9% during the 4th quarter. Fisher Asset Management LLC now owns 2,326,481 shares of the retailer’s stock worth $433,005,000 after acquiring an additional 2,221,445 shares during the period. Capital World Investors boosted its position in Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. Finally, Vanguard Group Inc. boosted its position in Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. Institutional investors and hedge funds own 70.87% of the company’s stock.
A number of brokerages have issued reports on COST. Vetr lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $195.68 price target for the company. in a research report on Tuesday. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, November 30th. Susquehanna Bancshares boosted their price target on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday, December 15th. Barclays reiterated a “buy” rating and set a $208.00 price target on shares of Costco Wholesale in a research report on Tuesday, December 19th. Finally, Argus boosted their price target on Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Ten investment 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 an average rating of “Buy” and a consensus price target of $190.18.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 earnings per share. research analysts anticipate that Costco Wholesale Co. will post 6.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.
In other news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $193.20, for a total value of $966,000.00. Following the sale, the vice president now directly owns 52,529 shares in the company, valued at $10,148,602.80. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $17,408,817 over the last ninety days. 0.58% of the stock is owned by insiders.
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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