Barrett Asset Management LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 32,059 shares of the retailer’s stock after purchasing an additional 740 shares during the period. Barrett Asset Management LLC’s holdings in Costco Wholesale were worth $5,267,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norinchukin Bank The lifted its holdings in Costco Wholesale by 2.7% during the 3rd quarter. Norinchukin Bank The now owns 72,907 shares of the retailer’s stock worth $11,978,000 after buying an additional 1,907 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Costco Wholesale by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 125,114 shares of the retailer’s stock worth $20,555,000 after buying an additional 2,243 shares during the last quarter. First Interstate Bank lifted its holdings in Costco Wholesale by 5.3% during the 3rd quarter. First Interstate Bank now owns 37,003 shares of the retailer’s stock worth $6,080,000 after buying an additional 1,873 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in Costco Wholesale by 3.3% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 12,338 shares of the retailer’s stock worth $2,028,000 after buying an additional 399 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Costco Wholesale by 3.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,818 shares of the retailer’s stock worth $16,071,000 after buying an additional 2,901 shares during the last quarter. 70.91% of the stock is owned by hedge funds and other institutional investors.
COST has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating and set a $190.00 target price (up previously from $187.00) on shares of Costco Wholesale in a report on Monday, October 9th. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $190.00 target price (up previously from $184.00) on shares of Costco Wholesale in a report on Friday, October 6th. Jefferies Group reaffirmed a “hold” rating and set a $162.00 target price (down previously from $168.00) on shares of Costco Wholesale in a report on Friday, October 6th. Finally, Oppenheimer set a $185.00 target price on Costco Wholesale and gave the stock a “buy” rating in a report on Friday, October 6th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $188.90.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The company had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. During the same period last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. sell-side analysts predict that Costco Wholesale Co. will post 6.59 earnings per share for the current year.
In other news, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the transaction, the vice president now directly owns 41,396 shares in the company, valued at approximately $6,647,369.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Mckay sold 8,111 shares of Costco Wholesale stock in a transaction on 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 transaction, the insider now owns 66,751 shares in the company, valued at $11,533,237.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,027 shares of company stock worth $14,914,835. 0.58% of the stock is owned by insiders.
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About Costco Wholesale
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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