Northeast Investment Management Has $19.39 Million Position in Costco Wholesale Co. (COST)

Northeast Investment Management decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,174 shares of the retailer’s stock after selling 7,523 shares during the quarter. Costco Wholesale comprises about 1.6% of Northeast Investment Management’s holdings, making the stock its 22nd largest position. Northeast Investment Management’s holdings in Costco Wholesale were worth $19,389,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale in the 2nd quarter valued at about $101,000. Wealthcare Advisory Partners LLC acquired a new position in Costco Wholesale in the 3rd quarter valued at about $102,000. Jacobus Wealth Management Inc. acquired a new position in Costco Wholesale in the 3rd quarter valued at about $103,000. Shamrock Asset Management LLC raised its stake in Costco Wholesale by 171.3% in the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after purchasing an additional 418 shares during the last quarter. Finally, Zions Bancorporation raised its stake in Costco Wholesale by 148.4% in the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after purchasing an additional 411 shares during the last quarter. 72.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $191.56 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $199.88. The stock has a market capitalization of $84,079.99, a PE ratio of 31.86, a PEG ratio of 3.13 and a beta of 0.99.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. research analysts expect that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, February 15th. Costco Wholesale’s payout ratio is currently 31.80%.

In other news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at approximately $1,585,932.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $193.20, for a total value of $966,000.00. Following the sale, the vice president now owns 52,529 shares of the company’s stock, valued at approximately $10,148,602.80. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock valued at $17,408,817 in the last quarter. Company insiders own 0.74% of the company’s stock.

COST has been the subject of several analyst reports. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, October 20th. BMO Capital Markets raised shares of Costco Wholesale from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $192.73 to $215.00 in a research note on Monday, December 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a research note on Monday, December 4th. Vetr downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $171.07 price objective for the company. in a research note on Monday, November 6th. Finally, Morgan Stanley set a $175.00 price objective on shares of Costco Wholesale and gave the company a “hold” rating in a research note on Friday, December 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $190.36.

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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.

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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