Costco Wholesale Co. (COST) Stake Lowered by Van ECK Associates Corp
Van ECK Associates Corp lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,322 shares of the retailer’s stock after selling 420 shares during the period. Van ECK Associates Corp’s holdings in Costco Wholesale were worth $3,010,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in COST. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale during the second quarter valued at about $101,000. Jacobus Wealth Management Inc. purchased a new stake in Costco Wholesale during the third quarter valued at about $103,000. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale during the second quarter valued at about $107,000. Shamrock Asset Management LLC grew its position in Costco Wholesale by 171.3% during the third quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after acquiring an additional 418 shares during the period. Finally, Mercer Capital Advisers Inc. grew its position in Costco Wholesale by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares during the period. 70.91% of the stock is owned by institutional investors and hedge funds.
In other Costco Wholesale news, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the sale, the vice president now owns 41,396 shares in the company, valued at $6,647,369.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul G. Moulton sold 6,985 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $187.92, for a total value of $1,312,621.20. Following the sale, the vice president now owns 45,248 shares in the company, valued at approximately $8,503,004.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,027 shares of company stock worth $14,914,835. Insiders own 0.58% of the company’s stock.
A number of research firms have issued reports on COST. Oppenheimer boosted their price target on Costco Wholesale from $180.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, January 5th. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a research report on Thursday, January 4th. Barclays reissued a “buy” rating and set a $208.00 price target on shares of Costco Wholesale in a research report on Tuesday, December 19th. Finally, BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $192.73 to $215.00 in a research report on Monday, December 18th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $188.90.
Costco Wholesale Co. (NASDAQ COST) opened at $185.42 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $195.35. The company has a market capitalization of $81,430.00, a PE ratio of 29.48, a P/E/G ratio of 3.12 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year. analysts forecast that Costco Wholesale Co. will post 6.59 EPS for the current year.
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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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