Lincoln Capital LLC Grows Position in Costco Wholesale Co. (COST)
Lincoln Capital LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,782 shares of the retailer’s stock after acquiring an additional 328 shares during the quarter. Costco Wholesale makes up approximately 3.5% of Lincoln Capital LLC’s holdings, making the stock its 11th biggest holding. Lincoln Capital LLC’s holdings in Costco Wholesale were worth $5,714,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in COST. Vanguard Group Inc. grew its position in Costco Wholesale by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after purchasing an additional 937,121 shares during the last quarter. BlackRock Inc. grew its position in Costco Wholesale by 2.9% in the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after purchasing an additional 703,825 shares during the last quarter. Capital World Investors grew its position in Costco Wholesale by 6.0% in the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after purchasing an additional 1,007,720 shares during the last quarter. FMR LLC grew its position in Costco Wholesale by 1.5% in the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after purchasing an additional 177,200 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Costco Wholesale by 2.3% in the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after purchasing an additional 207,675 shares during the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.
COST has been the subject of several recent analyst reports. Vetr upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a research report on Monday, August 21st. Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, August 24th. Robert W. Baird restated a “buy” rating and issued a $200.00 target price on shares of Costco Wholesale in a research report on Friday, August 25th. Cowen restated an “outperform” rating and issued a $182.00 target price (up previously from $180.00) on shares of Costco Wholesale in a research report on Tuesday, August 29th. Finally, BMO Capital Markets set a $160.00 target price on shares of Costco Wholesale and gave the stock a “hold” rating in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $179.50.
In related news, VP Dennis R. Zook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $161.92, for a total transaction of $809,600.00. Following the completion of the sale, the vice president now directly owns 626 shares in the company, valued at $101,361.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total transaction of $164,920.00. Following the sale, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock valued at $5,520,848 over the last 90 days. 0.74% of the stock is currently owned by insiders.
Costco Wholesale Co. (NASDAQ:COST) opened at $188.28 on Thursday. The stock has a market cap of $82,280.00, a P/E ratio of 32.45, a PEG ratio of 3.06 and a beta of 0.98. Costco Wholesale Co. has a 1-year low of $150.00 and a 1-year high of $191.22. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.77 earnings per share. analysts anticipate that Costco Wholesale Co. will post 6.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s payout ratio is 32.95%.
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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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