Capital International Investors Sells 260,700 Shares of Costco Wholesale Co. (COST)
Capital International Investors decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 82.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 56,501 shares of the retailer’s stock after selling 260,700 shares during the period. Capital International Investors’ holdings in Costco Wholesale were worth $9,283,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in COST. Almanack Investment Partners LLC. bought a new position in Costco Wholesale during the 2nd quarter worth $101,000. Jacobus Wealth Management Inc. bought a new position in Costco Wholesale during the 3rd quarter worth $103,000. Shamrock Asset Management LLC raised its position in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares during the last quarter. Mercer Capital Advisers Inc. raised its position in Costco Wholesale by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after purchasing an additional 23 shares during the last quarter. Finally, Ledyard National Bank raised its position in Costco Wholesale by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after purchasing an additional 130 shares during the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on COST shares. Moffett Nathanson started coverage on Costco Wholesale in a research report on Monday, December 4th. They issued a “buy” rating for the company. < Robert W. Baird reissued a "buy" rating and issued a $215.00 price objective on shares of Costco Wholesale in a research report on Friday, December 15th. Susquehanna Bancshares lifted their price objective on Costco Wholesale from $205.00 to $215.00 and gave the stock a "positive" rating in a research report on Friday, December 15th. Stifel Nicolaus reissued a "buy" rating and issued a $200.00 price objective (up from $185.00) on shares of Costco Wholesale in a research report on Friday, December 15th. Finally, Vetr lowered Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 price objective for the company. in a research report on Friday, December 1st. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $189.20.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $31.01 billion. During the same period in the previous year, the company posted $1.24 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. equities analysts anticipate that Costco Wholesale Co. will post 6.69 earnings per share for the current fiscal year.
In related news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $161.97, for a total value of $161,970.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,401,688.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $193.20, for a total value of $966,000.00. Following the completion of the sale, the vice president now directly owns 52,529 shares of the company’s stock, valued at $10,148,602.80. The disclosure for this sale can be found here. Insiders sold a total of 104,677 shares of company stock valued at $19,641,535 over the last ninety days. 0.58% of the stock is currently owned by corporate 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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