Northstar Asset Management LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 16.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,586 shares of the retailer’s stock after acquiring an additional 226 shares during the period. Northstar Asset Management LLC’s holdings in Costco Wholesale were worth $373,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nikulski Financial Inc. lifted its stake in Costco Wholesale by 6.6% during the second quarter. Nikulski Financial Inc. now owns 8,980 shares of the retailer’s stock worth $1,877,000 after purchasing an additional 555 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock worth $376,180,000 after purchasing an additional 23,227 shares in the last quarter. British Airways Pensions Investment Management Ltd lifted its stake in Costco Wholesale by 0.8% during the second quarter. British Airways Pensions Investment Management Ltd now owns 104,814 shares of the retailer’s stock worth $21,904,000 after purchasing an additional 853 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Costco Wholesale by 12.8% during the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock worth $657,000 after acquiring an additional 359 shares during the period. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the second quarter worth $204,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.
COST has been the topic of a number of recent research reports. Wells Fargo & Co upped their price objective on Costco Wholesale from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, July 12th. Raymond James upped their price objective on Costco Wholesale from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 17th. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. Citigroup upped their price objective on Costco Wholesale from $222.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Costco Wholesale has a consensus rating of “Buy” and a consensus price target of $237.94.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. Costco Wholesale’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. Analysts predict that Costco Wholesale Co. will post 7.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
In related news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $235.81, for a total value of $707,430.00. Following the transaction, the director now owns 8,654 shares of the company’s stock, valued at $2,040,699.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider W Craig Jelinek sold 22,500 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $223.52, for a total value of $5,029,200.00. Following the completion of the transaction, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The disclosure for this sale can be found here. Insiders sold 64,312 shares of company stock worth $14,547,272 in the last three months. 0.74% of the stock is currently owned by corporate insiders.
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Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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