Costco Wholesale Co. (COST) Holdings Lifted by Jennison Associates LLC
Jennison Associates LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 86.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,611,043 shares of the retailer’s stock after purchasing an additional 3,062,864 shares during the quarter. Costco Wholesale comprises 1.2% of Jennison Associates LLC’s holdings, making the stock its 22nd biggest position. Jennison Associates LLC’s holdings in Costco Wholesale were worth $1,230,447,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Middleton & Co Inc MA boosted its holdings in shares of Costco Wholesale by 1.0% in the 4th quarter. Middleton & Co Inc MA now owns 57,838 shares of the retailer’s stock valued at $10,765,000 after acquiring an additional 591 shares during the last quarter. Baldwin Brothers Inc. MA boosted its holdings in shares of Costco Wholesale by 1.3% in the 4th quarter. Baldwin Brothers Inc. MA now owns 68,089 shares of the retailer’s stock valued at $12,673,000 after acquiring an additional 857 shares during the last quarter. Vantage Investment Advisors LLC boosted its holdings in shares of Costco Wholesale by 2.0% in the 4th quarter. Vantage Investment Advisors LLC now owns 24,937 shares of the retailer’s stock valued at $4,641,000 after acquiring an additional 497 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Costco Wholesale by 6.1% in the 4th quarter. APG Asset Management N.V. now owns 1,101,718 shares of the retailer’s stock valued at $170,763,000 after acquiring an additional 63,700 shares during the last quarter. Finally, Mizuho Securities USA LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at $2,159,000. Institutional investors and hedge funds own 72.06% of the company’s stock.
COST has been the topic of several recent research reports. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, January 5th. Vetr raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective on the stock in a report on Monday, February 5th. Moffett Nathanson began coverage on shares of Costco Wholesale in a report on Monday, December 4th. They set a “buy” rating on the stock. < Oppenheimer increased their price target on shares of Costco Wholesale from $180.00 to $210.00 and gave the stock an "outperform" rating in a report on Monday, January 8th. Finally, Guggenheim reissued a "hold" rating on shares of Costco Wholesale in a report on Wednesday, November 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of "Buy" and an average price target of $190.36.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion for the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. equities research analysts predict that Costco Wholesale Co. will post 6.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, February 15th. Costco Wholesale’s payout ratio is 31.80%.
In other Costco Wholesale news, VP Timothy L. Rose sold 5,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $193.20, for a total transaction of $966,000.00. Following the transaction, the vice president now directly owns 52,529 shares of the company’s stock, valued at $10,148,602.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $183.26, for a total transaction of $549,780.00. Following the transaction, the director now directly owns 8,654 shares in the company, valued at $1,585,932.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,185 shares of company stock worth $17,408,817. Insiders own 0.58% of the company’s stock.
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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