Atalanta Sosnoff Capital LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,675 shares of the retailer’s stock after selling 7,792 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Costco Wholesale were worth $12,019,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Costco Wholesale during the fourth quarter worth approximately $553,367,000. Renaissance Technologies LLC increased its position in Costco Wholesale by 35.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,819,713 shares of the retailer’s stock worth $451,464,000 after buying an additional 733,500 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Costco Wholesale by 1,607.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 769,613 shares of the retailer’s stock worth $123,279,000 after buying an additional 724,536 shares during the last quarter. Morgan Stanley increased its position in Costco Wholesale by 17.2% in the third quarter. Morgan Stanley now owns 4,722,152 shares of the retailer’s stock worth $720,175,000 after buying an additional 693,510 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Costco Wholesale during the fourth quarter worth approximately $94,176,000. Institutional investors and hedge funds own 73.12% of the company’s stock.
Costco Wholesale Co. (NASDAQ:COST) traded up 0.36% during trading on Friday, hitting $170.77. The stock had a trading volume of 2,257,925 shares. The stock has a market cap of $74.96 billion, a PE ratio of 31.50 and a beta of 0.89. The firm’s 50-day moving average price is $168.11 and its 200-day moving average price is $160.94. Costco Wholesale Co. has a 1-year low of $138.57 and a 1-year high of $178.71.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 2nd. The retailer reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The firm had revenue of $29.77 billion for the quarter, compared to analysts’ expectations of $29.75 billion. During the same quarter in the prior year, the business posted $1.24 earnings per share. Costco Wholesale’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Costco Wholesale Co. will post $5.66 earnings per share for the current fiscal year.
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COST has been the topic of a number of research reports. Cowen and Company restated an “outperform” rating on shares of Costco Wholesale in a research note on Thursday, March 30th. Wells Fargo & Co restated a “hold” rating on shares of Costco Wholesale in a research note on Saturday, March 4th. Jefferies Group LLC set a $156.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research note on Monday, March 6th. Instinet restated a “buy” rating and set a $185.00 price target on shares of Costco Wholesale in a research note on Friday, January 6th. Finally, Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Buy” and a consensus price target of $179.28.
In related news, Director James D. Sinegal sold 17,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $164.52, for a total transaction of $2,796,840.00. Following the completion of the sale, the director now directly owns 792,594 shares in the company, valued at $130,397,564.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $166.95, for a total value of $667,800.00. Following the sale, the vice president now owns 44,049 shares of the company’s stock, valued at $7,353,980.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,948 shares of company stock valued at $20,932,141. 0.74% of the stock is owned by corporate insiders.
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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