Costco Wholesale Corporation (COST) Shares Bought by Investment Management of Virginia LLC
Investment Management of Virginia LLC grew its stake in Costco Wholesale Corporation (NASDAQ:COST) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,897 shares of the retailer’s stock after purchasing an additional 217 shares during the quarter. Investment Management of Virginia LLC’s holdings in Costco Wholesale Corporation were worth $1,263,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in COST. Ameriprise Financial Inc. grew its position in shares of Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after purchasing an additional 1,753,741 shares during the period. Harbour Capital Advisors LLC boosted its position in Costco Wholesale Corporation by 15,937.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock worth $9,058,000 after acquiring an additional 1,439,613 shares during the last quarter. Magellan Asset Management Ltd boosted its position in Costco Wholesale Corporation by 13.9% during the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock worth $732,000,000 after acquiring an additional 532,896 shares during the last quarter. Janus Capital Management LLC boosted its position in Costco Wholesale Corporation by 8.6% during the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after acquiring an additional 361,581 shares during the last quarter. Finally, Swiss National Bank boosted its position in Costco Wholesale Corporation by 26.2% during the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after acquiring an additional 331,400 shares during the last quarter. Institutional investors and hedge funds own 72.49% of the company’s stock.
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Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 157.55 on Thursday. The stock has a market capitalization of $68.88 billion, a P/E ratio of 25.91 and a beta of 0.94. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The company’s 50-day moving average is $160.51 and its 200 day moving average is $164.27.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Costco Wholesale Corporation’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
A number of research firms recently weighed in on COST. Wells Fargo & Company set a $170.00 price target on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. Citigroup Inc. boosted their price target on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the stock a “hold” rating in a research report on Friday, October 6th. UBS AG restated a “buy” rating and set a $190.00 price target on shares of Costco Wholesale Corporation in a research report on Friday, October 6th. Oppenheimer Holdings, Inc. set a $185.00 price target on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Morgan Stanley lowered shares of Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Costco Wholesale Corporation currently has an average rating of “Buy” and an average target price of $178.50.
In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the transaction, the director now owns 6,974 shares in the company, valued at $1,150,152.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 3,000 shares of company stock worth $481,760 in the last 90 days. 0.74% of the stock is currently owned by insiders.
Costco Wholesale Corporation 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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