Parsec Financial Management Inc. Takes Position in Costco Wholesale Co. (COST)
Parsec Financial Management Inc. purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,098 shares of the retailer’s stock, valued at approximately $204,000.
Several other institutional investors also recently made changes to their positions in COST. Janus Henderson Group PLC raised its position in shares of 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 purchasing an additional 4,046,164 shares during the period. Jennison Associates LLC grew its holdings in Costco Wholesale by 86.3% in the 4th quarter. Jennison Associates LLC now owns 6,611,043 shares of the retailer’s stock worth $1,230,447,000 after buying an additional 3,062,864 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Costco Wholesale by 2,114.9% in the 4th quarter. Fisher Asset Management LLC now owns 2,326,481 shares of the retailer’s stock worth $433,005,000 after buying an additional 2,221,445 shares in the last quarter. Capital World Investors grew its holdings 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 buying an additional 1,007,720 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 buying an additional 937,121 shares in the last quarter. Institutional investors and hedge funds own 72.06% of the company’s stock.
In other news, Director James D. Sinegal sold 30,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $192.06, for a total transaction of $5,761,800.00. Following the completion of the sale, the director now owns 746,209 shares in the company, valued at approximately $143,316,900.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $183.26, for a total value of $549,780.00. Following the sale, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,585,932.04. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock valued at $17,408,817 in the last quarter. Insiders own 0.58% of the company’s stock.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $187.35 on Thursday. Costco Wholesale Co. has a 52-week low of $150.00 and a 52-week high of $199.88. The company has a market capitalization of $82,280.00, a price-to-earnings ratio of 29.79, a PEG ratio of 2.96 and a beta of 0.99. 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 (NASDAQ:COST) last announced its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. sell-side analysts forecast that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.
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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