Costco Wholesale Co. (COST) Shares Sold by Brown Advisory Inc.
Brown Advisory Inc. trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 23.7% during the third quarter, HoldingsChannel.com reports. The fund owned 2,007,929 shares of the retailer’s stock after selling 623,064 shares during the period. Costco Wholesale accounts for about 1.1% of Brown Advisory Inc.’s investment portfolio, making the stock its 28th biggest position. Brown Advisory Inc.’s holdings in Costco Wholesale were worth $329,883,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after buying an additional 937,121 shares during the period. BlackRock Inc. increased its stake in Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after buying an additional 703,825 shares during the period. Capital World Investors increased its stake in Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after buying an additional 1,007,720 shares during the period. Capital Research Global Investors increased its stake in Costco Wholesale by 2.3% during the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after buying an additional 207,675 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Costco Wholesale by 14.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock worth $1,118,138,000 after buying an additional 858,969 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.
COST has been the topic of several recent research reports. Citigroup upped their target price on shares of Costco Wholesale from $155.00 to $187.00 and gave the stock a “hold” rating in a research note on Friday, October 6th. Morgan Stanley cut shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Zacks Investment Research cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, October 20th. Finally, Wells Fargo & Co set a $170.00 price target on shares of Costco Wholesale and gave the stock a “hold” rating in a report on Thursday, October 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $188.90.
Shares of Costco Wholesale Co. (NASDAQ COST) opened at $191.84 on Tuesday. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $195.35. The company has a market cap of $84,250.00, a price-to-earnings ratio of 30.50, a P/E/G ratio of 3.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The firm had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. Costco Wholesale’s revenue for the quarter was up 13.2% on a year-over-year basis. equities analysts forecast that Costco Wholesale Co. will post 6.61 earnings per share for the current year.
In other Costco Wholesale news, VP Timothy L. Rose sold 5,000 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $161.97, for a total transaction of $161,970.00. Following the transaction, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,401,688.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,027 shares of company stock valued at $15,872,935. 0.58% of the stock is owned by insiders.
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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