Costco Wholesale Co. (COST) Holdings Increased by Park Avenue Securities LLC
Park Avenue Securities LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 19.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,828 shares of the retailer’s stock after acquiring an additional 301 shares during the period. Park Avenue Securities LLC’s holdings in Costco Wholesale were worth $303,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Jacobus Wealth Management Inc. bought a new stake in shares of Costco Wholesale in the 3rd quarter worth $103,000. Almanack Investment Partners LLC. bought a new stake in shares of Costco Wholesale in the 2nd quarter worth $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter worth $107,000. Mercer Capital Advisers Inc. raised its stake in shares of Costco Wholesale by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares in the last quarter. Finally, Smithfield Trust Co. raised its stake in shares of Costco Wholesale by 150.2% in the 3rd quarter. Smithfield Trust Co. now owns 808 shares of the retailer’s stock worth $133,000 after buying an additional 485 shares in the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.
Costco Wholesale Co. (NASDAQ:COST) opened at $185.42 on Thursday. Costco Wholesale Co. has a twelve month low of $150.00 and a twelve month high of $195.35. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $81,430.00, a price-to-earnings ratio of 29.48, a PEG ratio of 3.12 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $31.01 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts expect that Costco Wholesale Co. will post 6.59 EPS for the current fiscal year.
In other news, Director Richard M. Libenson sold 20,000 shares of Costco Wholesale stock in a transaction 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 transaction, the director now owns 3,919 shares in the company, valued at $756,484.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the transaction, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Insiders have sold 82,027 shares of company stock worth $14,914,835 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on COST. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective on the stock in a research note on Thursday, January 4th. Oppenheimer boosted their price objective on Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday. Guggenheim reissued a “neutral” rating on shares of Costco Wholesale in a research note on Thursday, October 5th. Finally, BMO Capital Markets set a $160.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a research note on Saturday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $188.90.
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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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