Cullen Frost Bankers Inc. grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,919 shares of the retailer’s stock after acquiring an additional 714 shares during the period. Costco Wholesale comprises about 1.0% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 19th biggest position. Cullen Frost Bankers Inc.’s holdings in Costco Wholesale were worth $30,881,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. lifted its position in shares of Costco Wholesale by 0.3% in the second quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock valued at $168,000 after acquiring an additional 3 shares in the last quarter. SVA Plumb Wealth Management LLC lifted its position in shares of Costco Wholesale by 0.3% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock valued at $404,000 after acquiring an additional 7 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Costco Wholesale by 0.5% in the second quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock valued at $223,000 after acquiring an additional 7 shares in the last quarter. Ray Gerald L & Associates Ltd. lifted its position in shares of Costco Wholesale by 1.6% in the second quarter. Ray Gerald L & Associates Ltd. now owns 1,285 shares of the retailer’s stock valued at $206,000 after acquiring an additional 20 shares in the last quarter. Finally, Keel Point LLC lifted its position in shares of Costco Wholesale by 1.6% in the second quarter. Keel Point LLC now owns 1,722 shares of the retailer’s stock worth $275,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.
A number of research firms recently commented on COST. Vetr downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $200.28 target price on the stock. in a research report on Monday, January 22nd. BMO Capital Markets set a $223.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, December 15th. Susquehanna Bancshares boosted their target price 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 reiterated a “buy” rating and issued a $208.00 target price on shares of Costco Wholesale in a research report on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and a consensus price target of $190.18.
In other news, Director James D. Sinegal sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 746,209 shares of the company’s stock, valued at $143,316,900.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $193.41, for a total value of $580,230.00. Following the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $1,673,770.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,185 shares of company stock worth $17,408,817. Insiders own 0.58% of the company’s stock.
Shares of Costco Wholesale Co. (COST) opened at $191.56 on Tuesday. 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 Co. has a 52 week low of $150.00 and a 52 week high of $199.88. The firm has a market capitalization of $84,115.13, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 3.13 and a beta of 0.99.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. equities analysts predict that Costco Wholesale Co. will post 6.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 annualized dividend and a yield of 1.04%. Costco Wholesale’s payout ratio is currently 31.80%.
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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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