Provident Trust Co. Takes Position in Costco Wholesale Co. (COST)
Provident Trust Co. bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 605,320 shares of the retailer’s stock, valued at approximately $99,448,000. Costco Wholesale makes up about 4.4% of Provident Trust Co.’s portfolio, making the stock its 13th biggest position.
Several other institutional investors and hedge funds have also recently modified their holdings of COST. Almanack Investment Partners LLC. acquired a new position in shares of Costco Wholesale in the 2nd quarter worth approximately $101,000. Jacobus Wealth Management Inc. acquired a new position in Costco Wholesale during the 3rd quarter valued at approximately $103,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale during the 2nd quarter valued at approximately $107,000. Mercer Capital Advisers Inc. boosted its position in 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 period. Finally, Ledyard National Bank boosted its position in 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 period. Institutional investors own 70.91% of the company’s stock.
In other news, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction on 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 owns 35,225 shares of the company’s stock, valued at approximately $6,021,713.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard A. Galanti sold 5,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares in the company, valued at approximately $6,647,369.68. 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 in the last ninety days. 0.58% of the stock is owned by company insiders.
Shares of Costco Wholesale Co. (COST) opened at $185.42 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98. The firm has a market capitalization of $81,430.00, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 3.12 and a beta 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 earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. equities research analysts expect that Costco Wholesale Co. will post 6.59 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. Vetr upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective for the company in a research report on Thursday, January 4th. Stifel Nicolaus restated a “buy” rating and set a $173.00 price objective on shares of Costco Wholesale in a research report on Monday, October 9th. JPMorgan Chase & Co. restated a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a research 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 research report on Tuesday, September 19th. Finally, Bank of America restated a “buy” rating and set a $192.00 price objective on shares of Costco Wholesale in a research report on Monday, October 9th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $188.90.
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Costco Wholesale 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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