Schwab Charles Investment Management Inc. Buys 73,186 Shares of Costco Wholesale Corporation (COST)
Schwab Charles Investment Management Inc. increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,564,620 shares of the retailer’s stock after acquiring an additional 73,186 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.36% of Costco Wholesale Corporation worth $250,230,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Ameriprise Financial Inc. grew its position in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after acquiring an additional 1,753,741 shares in the last quarter. Harbour Capital Advisors LLC grew its position in Costco Wholesale Corporation by 15,937.3% in 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 in the last quarter. Magellan Asset Management Ltd grew its position in Costco Wholesale Corporation by 13.9% in 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 in the last quarter. Janus Capital Management LLC grew its position in Costco Wholesale Corporation by 8.6% in 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 in the last quarter. Finally, Swiss National Bank grew its position in Costco Wholesale Corporation by 26.2% in 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 in the last quarter. Institutional investors own 72.35% of the company’s stock.
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Several research firms recently commented on COST. Deutsche Bank AG set a $172.00 price target on Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Monday, July 31st. UBS AG raised shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $185.00 to $160.00 in a research note on Monday, July 10th. Robert W. Baird reissued a “buy” rating and issued a $200.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Finally, Zacks Investment Research raised shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, September 19th. Twelve investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Costco Wholesale Corporation has an average rating of “Buy” and a consensus price target of $178.39.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the sale, the director now directly owns 6,974 shares in the company, valued at approximately $1,150,152.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 3,000 shares of company stock worth $481,760. 0.74% of the stock is owned by company insiders.
Costco Wholesale Corporation (COST) opened at 157.09 on Friday. The stock has a market capitalization of $68.68 billion, a price-to-earnings ratio of 25.84 and a beta of 0.94. The company’s 50-day moving average is $159.96 and its 200 day moving average is $164.83. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. Costco Wholesale Corporation also saw unusually large options trading activity on Thursday. Stock traders purchased 21,435 call options on the company. This represents an increase of 266% compared to the average volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. The company had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. Equities analysts expect that Costco Wholesale Corporation will post $6.43 EPS for the current year.
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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