Cardinal Capital Management Raises Holdings in Costco Wholesale Co. (COST)

Cardinal Capital Management raised its position in Costco Wholesale Co. (NASDAQ:COST) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,721 shares of the retailer’s stock after buying an additional 741 shares during the quarter. Costco Wholesale accounts for 1.5% of Cardinal Capital Management’s holdings, making the stock its 18th biggest holding. Cardinal Capital Management’s holdings in Costco Wholesale were worth $4,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Costco Wholesale by 107.8% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 67,456 shares of the retailer’s stock worth $11,312,000 after purchasing an additional 35,000 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Costco Wholesale by 0.4% during the 1st quarter. Arizona State Retirement System now owns 120,095 shares of the retailer’s stock worth $20,139,000 after purchasing an additional 500 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Costco Wholesale by 4.6% during the 1st quarter. Blair William & Co. IL now owns 613,112 shares of the retailer’s stock worth $104,119,000 after purchasing an additional 26,929 shares in the last quarter. Accredited Investors Inc. grew its holdings in shares of Costco Wholesale by 0.8% during the 1st quarter. Accredited Investors Inc. now owns 2,150 shares of the retailer’s stock worth $361,000 after purchasing an additional 17 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth $202,000. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Richard M. Libenson sold 2,350 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $162.00, for a total transaction of $380,700.00. Following the completion of the transaction, the director now directly owns 4,109 shares in the company, valued at $665,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $170.95, for a total value of $512,850.00. Following the transaction, the chief financial officer now owns 35,225 shares of the company’s stock, valued at $6,021,713.75. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock valued at $5,520,848 over the last 90 days. 0.74% of the stock is owned by corporate insiders.

Costco Wholesale Co. (NASDAQ:COST) opened at $192.73 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. The company has a market capitalization of $84,221.08, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $195.35.

Costco Wholesale (NASDAQ:COST) last posted its 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 return on equity of 23.41% and a net margin of 2.09%. The firm had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same period last year, the company earned $1.24 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. equities research analysts anticipate that Costco Wholesale Co. will post 6.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.

Several analysts have recently issued reports on the company. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a report on Friday. Susquehanna Bancshares increased their target price on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a report on Friday. Jefferies Group reissued a “hold” rating on shares of Costco Wholesale in a report on Thursday. Robert W. Baird reissued a “buy” rating and set a $215.00 target price on shares of Costco Wholesale in a report on Friday. Finally, Telsey Advisory Group increased their target price on Costco Wholesale from $186.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $184.20.

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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.

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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