American International Group Inc. lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,161 shares of the retailer’s stock after purchasing an additional 9,617 shares during the quarter. American International Group Inc.’s holdings in Costco Wholesale were worth $30,740,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AXA raised its holdings in shares of Costco Wholesale by 1.9% during the third quarter. AXA now owns 704,782 shares of the retailer’s stock worth $115,788,000 after acquiring an additional 13,404 shares during the period. State of Wisconsin Investment Board raised its holdings in shares of Costco Wholesale by 3.2% during the third quarter. State of Wisconsin Investment Board now owns 511,728 shares of the retailer’s stock worth $84,072,000 after acquiring an additional 16,066 shares during the period. Synovus Financial Corp raised its holdings in shares of Costco Wholesale by 40.3% during the third quarter. Synovus Financial Corp now owns 21,611 shares of the retailer’s stock worth $3,542,000 after acquiring an additional 6,211 shares during the period. KCS Wealth Advisory acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $1,110,000. Finally, Moors & Cabot Inc. raised its holdings in shares of Costco Wholesale by 167.6% during the second quarter. Moors & Cabot Inc. now owns 17,278 shares of the retailer’s stock worth $2,763,000 after acquiring an additional 10,821 shares during the period. 72.79% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on COST shares. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Vetr upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a research note on Monday, February 5th. Moffett Nathanson started coverage on shares of Costco Wholesale in a research note on Monday, December 4th. They issued a “buy” rating on the stock. < Oppenheimer lifted their price target on shares of Costco Wholesale from $180.00 to $210.00 and gave the company an "outperform" rating in a research note on Monday, January 8th. Finally, Guggenheim reiterated a "hold" rating on shares of Costco Wholesale in a research note on Wednesday, November 22nd. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $190.76.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.03). The firm had revenue of $33 billion for the quarter, compared to analyst estimates of $32.73 billion. Costco Wholesale had a return on equity of 24.74% and a net margin of 2.18%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. research analysts predict that Costco Wholesale Co. will post 6.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 15th. Costco Wholesale’s payout ratio is 30.58%.
In related news, Director Richard M. Libenson sold 20,000 shares of Costco Wholesale stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $193.03, for a total transaction of $3,860,600.00. Following the completion of the sale, the director now owns 3,919 shares of the company’s stock, valued at approximately $756,484.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy L. Rose sold 5,000 shares of Costco Wholesale stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $193.20, for a total transaction of $966,000.00. Following the sale, the vice president now directly owns 52,529 shares of the company’s stock, valued at approximately $10,148,602.80. The disclosure for this sale can be found here. Insiders have sold a total of 108,185 shares of company stock valued at $20,583,577 in the last ninety days. 0.58% of the stock is currently owned by insiders.
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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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