Destination Wealth Management lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,454 shares of the retailer’s stock after purchasing an additional 432 shares during the quarter. Costco Wholesale comprises 1.4% of Destination Wealth Management’s investment portfolio, making the stock its 25th biggest holding. Destination Wealth Management’s holdings in Costco Wholesale were worth $23,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in COST. Synovus Financial Corp lifted its position in Costco Wholesale by 7.7% in the 4th quarter. Synovus Financial Corp now owns 23,267 shares of the retailer’s stock valued at $4,340,000 after acquiring an additional 1,656 shares in the last quarter. American International Group Inc. lifted its position in Costco Wholesale by 6.2% in the 4th quarter. American International Group Inc. now owns 165,161 shares of the retailer’s stock valued at $30,740,000 after acquiring an additional 9,617 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Costco Wholesale in the 4th quarter valued at about $2,773,000. Centaurus Financial Inc. bought a new position in Costco Wholesale in the 4th quarter valued at about $308,000. Finally, Trustcore Financial Services LLC bought a new position in Costco Wholesale in the 4th quarter valued at about $128,000. 72.79% of the stock is currently owned by institutional investors.
In related news, VP Timothy L. Rose sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $193.20, for a total value of $966,000.00. Following the completion of the transaction, the vice president now directly owns 52,529 shares in the company, valued at approximately $10,148,602.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Roland Michael Vachris sold 5,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, January 8th. The shares were 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 of the company’s stock, valued at $2,950,158.12. The disclosure for this sale can be found here. Insiders sold a total of 108,185 shares of company stock valued at $20,583,577 over the last quarter. 0.58% of the stock is owned by company insiders.
Shares of Costco Wholesale Co. (NASDAQ COST) opened at $189.37 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $199.88. The stock has a market cap of $82,764.55, a P/E ratio of 30.13, a PEG ratio of 3.04 and a beta of 0.97.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). Costco Wholesale had a return on equity of 24.74% and a net margin of 2.18%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. research analysts expect that Costco Wholesale Co. will post 6.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Costco Wholesale’s dividend payout ratio is 29.81%.
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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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