CI Investments Inc. grew its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 210.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,712 shares of the retailer’s stock after purchasing an additional 139,520 shares during the period. CI Investments Inc.’s holdings in Costco Wholesale were worth $98,594,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after acquiring an additional 467,631 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Costco Wholesale by 0.8% in the first quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock valued at $18,047,310,000 after purchasing an additional 261,972 shares during the last quarter. State Street Corp boosted its holdings in Costco Wholesale by 4.0% during the first quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock worth $10,963,995,000 after purchasing an additional 738,447 shares during the last quarter. Fisher Asset Management LLC grew its position in Costco Wholesale by 3.7% in the first quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock valued at $2,430,810,000 after purchasing an additional 150,655 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Costco Wholesale by 4.8% in the 1st quarter. Jennison Associates LLC now owns 3,271,513 shares of the retailer’s stock valued at $1,883,901,000 after buying an additional 151,287 shares during the last quarter. 66.83% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Costco Wholesale
In other news, EVP Russell D. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $483.58, for a total transaction of $483,580.00. Following the completion of the sale, the executive vice president now owns 11,593 shares of the company’s stock, valued at approximately $5,606,142.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Russell D. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $483.58, for a total transaction of $483,580.00. Following the completion of the transaction, the executive vice president now directly owns 11,593 shares in the company, valued at $5,606,142.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $495.97, for a total value of $991,940.00. Following the completion of the sale, the executive vice president now directly owns 5,685 shares in the company, valued at approximately $2,819,589.45. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $3,134,235 over the last quarter. 0.22% of the stock is owned by corporate insiders.
Costco Wholesale Stock Performance
Costco Wholesale (NASDAQ:COST – Get Rating) last announced its earnings results on Thursday, September 22nd. The retailer reported $4.20 EPS for the quarter, topping the consensus estimate of $4.17 by $0.03. The company had revenue of $72.09 billion for the quarter, compared to analysts’ expectations of $72 billion. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.44%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $3.90 earnings per share. Analysts anticipate that Costco Wholesale Co. will post 14.45 earnings per share for the current fiscal year.
Costco Wholesale Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 28th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, October 27th. Costco Wholesale’s payout ratio is currently 27.40%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on COST shares. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, November 18th. The Goldman Sachs Group upped their price objective on Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. DA Davidson raised their target price on shares of Costco Wholesale from $440.00 to $455.00 in a research note on Friday, September 23rd. Morgan Stanley dropped their price target on shares of Costco Wholesale from $560.00 to $525.00 and set an “overweight” rating on the stock in a research report on Friday, September 23rd. Finally, Raymond James cut their price target on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research note on Monday, September 26th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $565.54.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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