Duncker Streett & Co. Inc. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 46.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,437 shares of the retailer’s stock after acquiring an additional 775 shares during the period. Duncker Streett & Co. Inc.’s holdings in Costco Wholesale were worth $400,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP increased its stake in Costco Wholesale by 7.2% in the 3rd quarter. Korea Investment CORP now owns 328,058 shares of the retailer’s stock worth $53,897,000 after purchasing an additional 22,048 shares in the last quarter. New England Research & Management Inc. increased its stake in Costco Wholesale by 10.1% in the 3rd quarter. New England Research & Management Inc. now owns 9,250 shares of the retailer’s stock worth $1,520,000 after purchasing an additional 850 shares in the last quarter. Trust Co. of Vermont increased its stake in Costco Wholesale by 6.9% in the 3rd quarter. Trust Co. of Vermont now owns 38,531 shares of the retailer’s stock worth $6,330,000 after purchasing an additional 2,473 shares in the last quarter. Financial Sense Advisors Inc. purchased a new position in Costco Wholesale in the 3rd quarter worth about $1,247,000. Finally, Huntington National Bank increased its stake in Costco Wholesale by 8.2% in the 3rd quarter. Huntington National Bank now owns 167,504 shares of the retailer’s stock worth $27,520,000 after purchasing an additional 12,702 shares in the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Dennis R. Zook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total value of $809,600.00. Following the completion of the sale, the vice president now directly owns 626 shares in the company, valued at approximately $101,361.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Mckay sold 8,111 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $172.78, for a total value of $1,401,418.58. Following the completion of the sale, the insider now owns 66,751 shares of the company’s stock, valued at $11,533,237.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,842 shares of company stock valued at $5,520,848. 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion during the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.09%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. sell-side analysts anticipate that Costco Wholesale Co. will post 6.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. Costco Wholesale’s dividend payout ratio is 31.80%.
A number of equities research analysts have commented on the company. Susquehanna Bancshares raised their price objective on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday. Vetr lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective for the company. in a research report on Wednesday, September 27th. Jefferies Group restated a “hold” rating on shares of Costco Wholesale in a research report on Thursday. Telsey Advisory Group raised their price objective on Costco Wholesale from $186.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Stifel Nicolaus restated a “buy” rating and set a $200.00 price objective (up from $185.00) on shares of Costco Wholesale in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $184.20.
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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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