Nordea Investment Management AB Increases Holdings in Costco Wholesale Corporation (COST)
Nordea Investment Management AB raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,784 shares of the retailer’s stock after buying an additional 93 shares during the period. Nordea Investment Management AB’s holdings in Costco Wholesale Corporation were worth $3,484,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Elkhorn Investments LLC raised its stake in Costco Wholesale Corporation by 1.5% during the 2nd quarter. Elkhorn Investments LLC now owns 6,805 shares of the retailer’s stock valued at $1,065,000 after buying an additional 98 shares during the last quarter. Cibc World Markets Corp raised its stake in Costco Wholesale Corporation by 933.4% during the 2nd quarter. Cibc World Markets Corp now owns 94,593 shares of the retailer’s stock valued at $15,128,000 after buying an additional 85,439 shares during the last quarter. Harfst & Associates Inc. raised its stake in Costco Wholesale Corporation by 101.3% during the 2nd quarter. Harfst & Associates Inc. now owns 2,557 shares of the retailer’s stock valued at $408,000 after buying an additional 1,287 shares during the last quarter. Horizon Investments LLC purchased a new stake in Costco Wholesale Corporation during the 2nd quarter valued at $516,000. Finally, Bluestein R H & Co. raised its stake in Costco Wholesale Corporation by 0.4% during the 2nd quarter. Bluestein R H & Co. now owns 266,121 shares of the retailer’s stock valued at $42,561,000 after buying an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the transaction, the director now owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John D. Mckay sold 8,111 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the completion of the transaction, the insider now directly owns 66,751 shares of the company’s stock, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,842 shares of company stock valued at $5,128,658. 0.74% of the stock is owned by insiders.
COST has been the subject of a number of research reports. Robert W. Baird set a $200.00 target price on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Deutsche Bank AG set a $172.00 target price on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a research note on Monday, July 31st. BidaskClub upgraded shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Twelve research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Costco Wholesale Corporation presently has a consensus rating of “Buy” and a consensus target price of $178.34.
Costco Wholesale Corporation (NASDAQ:COST) opened at $173.42 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. Costco Wholesale Corporation has a 1-year low of $150.00 and a 1-year high of $183.18. The company has a market cap of $75,284.57, a PE ratio of 29.60, a P/E/G ratio of 2.75 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter last year, the firm earned $1.77 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. research analysts expect that Costco Wholesale Corporation will post 6.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, November 16th. Costco Wholesale Corporation’s payout ratio is 32.89%.
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About Costco Wholesale Corporation
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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