Comgest Global Investors S.A.S. grew its position in Costco Wholesale Co. (NASDAQ:COST) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,183 shares of the retailer’s stock after buying an additional 9,000 shares during the quarter. Costco Wholesale accounts for 0.3% of Comgest Global Investors S.A.S.’s holdings, making the stock its 26th largest holding. Comgest Global Investors S.A.S.’s holdings in Costco Wholesale were worth $11,945,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new position in Costco Wholesale during the 3rd quarter worth $102,000. Jacobus Wealth Management Inc. acquired a new position in Costco Wholesale during the 3rd quarter worth $103,000. Shamrock Asset Management LLC grew its stake in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares in the last quarter. Zions Bancorporation grew its stake in Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares in the last quarter. Finally, Trustcore Financial Services LLC acquired a new position in Costco Wholesale during the 4th quarter worth $128,000. 72.79% of the stock is owned by institutional investors and hedge funds.
In other news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $187.23, for a total value of $561,690.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,620,288.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul G. Moulton sold 11,674 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $188.98, for a total value of $2,206,152.52. Following the completion of the sale, the vice president now directly owns 33,573 shares of the company’s stock, valued at $6,344,625.54. The disclosure for this sale can be found here. Insiders sold a total of 119,859 shares of company stock valued at $22,789,730 over the last three months. Company insiders own 0.58% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. analysts anticipate that Costco Wholesale Co. will post 6.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 15th. Costco Wholesale’s payout ratio is currently 29.81%.
Several research analysts recently commented on the company. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 9th. Royal Bank of Canada reissued an “outperform” rating and set a $205.00 target price (down from $209.00) on shares of Costco Wholesale in a research note on Thursday, March 8th. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Friday, January 12th. Finally, Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 target price for the company in a research note on Thursday, January 4th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $190.76.
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About Costco Wholesale
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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