OLD National Bancorp IN lowered its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,224 shares of the retailer’s stock after selling 7,022 shares during the period. OLD National Bancorp IN’s holdings in Costco Wholesale were worth $13,344,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in COST. Alliancebernstein L.P. boosted its holdings in Costco Wholesale by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after purchasing an additional 129,106 shares during the last quarter. Mechanics Bank Trust Department boosted its holdings in Costco Wholesale by 4.8% in the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock worth $5,366,000 after purchasing an additional 1,529 shares during the last quarter. Cadinha & Co. LLC boosted its holdings in Costco Wholesale by 7.3% in the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after purchasing an additional 8,518 shares during the last quarter. Stephens Inc. AR boosted its holdings in Costco Wholesale by 3.1% in the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Intersect Capital LLC boosted its holdings in Costco Wholesale by 143.4% in the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock worth $861,000 after purchasing an additional 3,171 shares during the last quarter. 71.22% of the stock is owned by institutional investors.
In other news, insider John D. Mckay sold 8,111 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total value of $1,401,418.58. Following the sale, the insider now directly owns 66,751 shares in the company, valued at approximately $11,533,237.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard M. Libenson sold 20,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was 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 in the company, valued at $756,484.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,842 shares of company stock worth $10,347,448. Insiders own 0.74% of the company’s stock.
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 analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $31.81 billion for the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. equities research analysts predict that Costco Wholesale Co. will post 6.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a $0.50 dividend. 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 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.
COST has been the topic of several research reports. Deutsche Bank restated a “hold” rating and issued a $172.00 target price on shares of Costco Wholesale in a report on Tuesday, September 5th. Citigroup restated a “buy” rating and issued a $190.00 target price (up previously from $187.00) on shares of Costco Wholesale in a report on Monday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $190.00 price target (up previously from $184.00) on shares of Costco Wholesale in a research note on Friday, October 6th. Jefferies Group reiterated a “hold” rating and set a $162.00 price target (down previously from $168.00) on shares of Costco Wholesale in a research note on Friday, October 6th. Finally, Oppenheimer set a $185.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Friday, October 6th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average target price of $187.32.
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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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