Pitcairn Co. lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 12.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,982 shares of the retailer’s stock after selling 2,290 shares during the quarter. Pitcairn Co.’s holdings in Costco Wholesale were worth $2,626,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Steginsky Capital LLC grew its stake in Costco Wholesale by 5.3% in the third quarter. Steginsky Capital LLC now owns 137,245 shares of the retailer’s stock valued at $22,548,000 after acquiring an additional 6,868 shares during the period. Brown Advisory Securities LLC grew its stake in Costco Wholesale by 3.9% in the third quarter. Brown Advisory Securities LLC now owns 11,888 shares of the retailer’s stock valued at $1,953,000 after acquiring an additional 450 shares during the period. Bessemer Group Inc. grew its stake in Costco Wholesale by 5.6% in the third quarter. Bessemer Group Inc. now owns 381,918 shares of the retailer’s stock valued at $62,745,000 after acquiring an additional 20,394 shares during the period. GHP Investment Advisors Inc. grew its stake in Costco Wholesale by 5.6% in the third quarter. GHP Investment Advisors Inc. now owns 15,911 shares of the retailer’s stock valued at $2,614,000 after acquiring an additional 842 shares during the period. Finally, Smithfield Trust Co. grew its stake in Costco Wholesale by 150.2% in the third quarter. Smithfield Trust Co. now owns 808 shares of the retailer’s stock valued at $133,000 after acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $191.84 on Friday. Costco Wholesale Co. has a twelve month low of $150.00 and a twelve month high of $195.35. The stock has a market capitalization of $84,250.00, a PE ratio of 30.50, a P/E/G ratio of 3.14 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. Costco Wholesale’s revenue was up 13.2% on a year-over-year basis. analysts expect that Costco Wholesale Co. will post 6.61 EPS for the current fiscal year.
A number of research firms have issued reports on COST. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Friday. Vetr cut Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 target price for the company. in a research note on Wednesday, September 27th. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, November 30th. Susquehanna Bancshares upped their price objective on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday, December 15th. Finally, Barclays reaffirmed a “buy” rating and set a $208.00 price objective on shares of Costco Wholesale in a research report on Tuesday, December 19th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $188.90.
In other Costco Wholesale news, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $191.62, for a total value of $958,100.00. Following the sale, the vice president now owns 32,880 shares in the company, valued at $6,300,465.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard M. Libenson sold 2,350 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares in the company, valued at approximately $665,658. The disclosure for this sale can be found here. Insiders have sold 87,027 shares of company stock worth $15,872,935 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.
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Costco Wholesale 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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