Westside Investment Management Inc. boosted its position in Costco Wholesale Co. (NASDAQ:COST) by 49.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,662 shares of the retailer’s stock after acquiring an additional 548 shares during the period. Westside Investment Management Inc.’s holdings in Costco Wholesale were worth $257,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after buying an additional 937,121 shares during the period. BlackRock Inc. grew its stake in shares of Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after buying an additional 703,825 shares during the period. Capital World Investors grew its stake in shares of Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after buying an additional 1,007,720 shares during the period. Capital Research Global Investors grew its stake in shares of Costco Wholesale by 2.3% during the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after buying an additional 207,675 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Costco Wholesale by 14.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock valued at $1,118,138,000 after buying an additional 858,969 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on COST. Vetr cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective for the company. in a research note on Wednesday, September 27th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 price objective for the company in a research note on Friday, January 12th. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, November 30th. Susquehanna Bancshares boosted their price objective on shares of Costco Wholesale from $205.00 to $215.00 and gave the company a “positive” rating in a research note on Friday, December 15th. Finally, Barclays restated a “buy” rating and set a $208.00 target price on shares of Costco Wholesale in a report on Tuesday, December 19th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $188.90.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The firm had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. equities analysts expect that Costco Wholesale Co. will post 6.61 earnings per share for the current fiscal year.
In other news, VP Roland Michael Vachris sold 5,200 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $187.98, for a total value of $977,496.00. Following the sale, the vice president now owns 15,694 shares in the company, valued at approximately $2,950,158.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction of $802,900.00. Following the completion of the sale, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,027 shares of company stock worth $15,872,935. Company insiders own 0.74% of the company’s stock.
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Costco Wholesale 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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