State Treasurer State of Michigan lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,136 shares of the retailer’s stock after selling 11,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Costco Wholesale were worth $21,873,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Costco Wholesale by 2.9% in the second 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 period. BlackRock Inc. grew its stake in Costco Wholesale by 2.9% in the second 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 period. Capital World Investors grew its stake in Costco Wholesale by 6.0% in the second 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 period. FMR LLC grew its stake in Costco Wholesale by 1.5% in the first 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 period. Finally, Capital Research Global Investors grew its stake in Costco Wholesale by 2.3% in the second 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 period. Institutional investors own 71.49% of the company’s stock.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $188.28 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $191.22. The company has a market capitalization of $82,280.00, a price-to-earnings ratio of 32.45, a P/E/G ratio of 3.06 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The company had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same period last year, the firm posted $1.77 earnings per share. Costco Wholesale’s revenue was up 15.7% compared to the same quarter last year. research analysts predict that Costco Wholesale Co. will post 6.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.95%.
In related news, insider John D. Mckay sold 8,111 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the sale, the insider now directly owns 66,751 shares of the company’s stock, valued at $11,533,237.78. The transaction 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 stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the sale, the director now directly owns 6,974 shares in the company, valued at $1,150,152.08. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock worth $5,520,848 over the last ninety days. 0.74% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on COST shares. Vetr raised Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research note on Monday, August 21st. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Thursday, August 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale in a research note on Friday, August 25th. Cowen reissued an “outperform” rating and issued a $182.00 target price (up from $180.00) on shares of Costco Wholesale in a research note on Tuesday, August 29th. Finally, BMO Capital Markets set a $160.00 target price on Costco Wholesale and gave the stock a “hold” rating in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $179.50.
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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