Friedberg Investment Management Has $1.26 Million Holdings in Costco Wholesale Co. (COST)
Friedberg Investment Management lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 61.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,690 shares of the retailer’s stock after selling 12,333 shares during the period. Costco Wholesale accounts for 2.0% of Friedberg Investment Management’s holdings, making the stock its 18th biggest position. Friedberg Investment Management’s holdings in Costco Wholesale were worth $1,263,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of COST. Almanack Investment Partners LLC. purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $101,000. Jacobus Wealth Management Inc. purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $103,000. Northwest Investment Counselors LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $107,000. Mercer Capital Advisers Inc. lifted its holdings in shares of Costco Wholesale by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after purchasing an additional 23 shares during the last quarter. Finally, Ledyard National Bank lifted its holdings in shares of Costco Wholesale by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 70.91% of the company’s stock.
Several brokerages have recently commented on COST. Vetr upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective for the company in a report on Thursday, January 4th. Stifel Nicolaus reiterated a “buy” rating and set a $173.00 price objective on shares of Costco Wholesale in a report on Monday, October 9th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a report on Monday, December 4th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, September 19th. Finally, Bank of America reiterated a “buy” rating and set a $192.00 price objective on shares of Costco Wholesale in a report on Monday, October 9th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $188.90.
Shares of Costco Wholesale Co. (COST) opened at $186.29 on Wednesday. The firm has a market capitalization of $81,820.00, a PE ratio of 29.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $195.35.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion for the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. equities analysts anticipate that Costco Wholesale Co. will post 6.59 earnings per share for the current fiscal year.
In other Costco Wholesale news, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $188.62, for a total transaction of $943,100.00. Following the sale, the insider now directly owns 30,853 shares of the company’s stock, valued at approximately $5,819,492.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $170.95, for a total value of $512,850.00. Following the sale, the chief financial officer now directly owns 35,225 shares in the company, valued at $6,021,713.75. The disclosure for this sale can be found here. Insiders have sold a total of 82,027 shares of company stock worth $14,914,835 over the last ninety days. 0.58% of the stock is owned by insiders.
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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