Carnick & Kubik Group LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,982 shares of the retailer’s stock after buying an additional 846 shares during the quarter. Carnick & Kubik Group LLC’s holdings in Costco Wholesale were worth $2,044,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale during the 2nd quarter valued at about $101,000. Wealthcare Advisory Partners LLC bought a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $102,000. Jacobus Wealth Management Inc. bought a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $103,000. Shamrock Asset Management LLC raised its holdings in shares of Costco Wholesale by 171.3% in the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares during the period. Finally, Zions Bancorporation raised its holdings in shares of Costco Wholesale by 148.4% in the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on COST shares. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Vetr upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target for the company in a research report on Monday, February 5th. Moffett Nathanson initiated coverage on shares of Costco Wholesale in a research report on Monday, December 4th. They issued a “buy” rating for the company. < Oppenheimer upped their target price on shares of Costco Wholesale from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Monday, January 8th. Finally, Guggenheim restated a "hold" rating on shares of Costco Wholesale in a research report on Wednesday, November 22nd. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of "Buy" and an average price target of $190.76.
Shares of Costco Wholesale Co. (NASDAQ:COST) traded down $3.30 during trading hours on Wednesday, hitting $184.16. 2,299,338 shares of the company’s stock were exchanged, compared to its average volume of 2,619,586. Costco Wholesale Co. has a 1-year low of $150.00 and a 1-year high of $199.88. The company has a quick ratio of 0.44, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The stock has a market cap of $81,160.00, a PE ratio of 28.16, a P/E/G ratio of 3.05 and a beta of 0.97.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.03). Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period last year, the firm earned $1.17 earnings per share. Costco Wholesale’s quarterly revenue was up 10.8% on a year-over-year basis. equities research analysts forecast that Costco Wholesale Co. will post 6.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were issued a $0.50 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. Costco Wholesale’s dividend payout ratio is currently 30.58%.
In related news, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $193.20, for a total transaction of $966,000.00. Following the completion of the transaction, the vice president now owns 52,529 shares in the company, valued at approximately $10,148,602.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard M. Libenson sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.03, for a total transaction of $3,860,600.00. Following the sale, the director now directly owns 3,919 shares in the company, valued at approximately $756,484.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,859 shares of company stock valued at $22,789,730. Company insiders own 0.58% of the company’s stock.
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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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