Costco Wholesale Co. (COST) Holdings Increased by Eastern Bank
Eastern Bank boosted its position in Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 83,484 shares of the retailer’s stock after purchasing an additional 419 shares during the period. Eastern Bank’s holdings in Costco Wholesale were worth $15,538,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after buying an additional 937,121 shares during the period. BlackRock Inc. grew its stake in shares of Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after buying an additional 703,825 shares during the period. Capital World Investors grew its stake in shares of Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after buying an additional 1,007,720 shares during the period. Capital Research Global Investors grew its stake in shares of Costco Wholesale by 2.3% during the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after buying an additional 207,675 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 valued at $1,118,138,000 after buying an additional 858,969 shares during the period. 72.27% of the stock is owned by hedge funds and other institutional investors.
In other Costco Wholesale news, insider Daniel M. Hines sold 5,000 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $188.62, for a total value of $943,100.00. Following the transaction, the insider now owns 30,853 shares in the company, valued at approximately $5,819,492.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Roland Michael Vachris sold 5,200 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $187.98, for a total transaction of $977,496.00. Following the completion of the transaction, the vice president now owns 15,694 shares in the company, valued at approximately $2,950,158.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,296 shares of company stock valued at $18,810,236. 0.74% of the stock is owned by corporate insiders.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $31.01 billion. During the same period in the prior year, the company earned $1.24 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. analysts anticipate that Costco Wholesale Co. will post 6.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
Several brokerages have recently issued reports on COST. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, November 30th. Susquehanna Bancshares boosted their price objective on shares of Costco Wholesale from $205.00 to $215.00 and gave the company a “positive” rating in a research note on Friday, December 15th. Barclays reissued a “buy” rating and set a $208.00 price objective on shares of Costco Wholesale in a research note on Tuesday, December 19th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 price objective for the company in a research note on Friday, January 12th. Finally, Telsey Advisory Group boosted their price objective on shares of Costco Wholesale from $186.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $189.97.
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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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