Chicago Equity Partners LLC Takes Position in Costco Wholesale Co. (COST)

Chicago Equity Partners LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,105 shares of the retailer’s stock, valued at approximately $839,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $101,000. Jacobus Wealth Management Inc. acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth about $103,000. Northwest Investment Counselors LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $107,000. Mercer Capital Advisers Inc. increased its position in Costco Wholesale by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares during the period. Finally, Ledyard National Bank increased its position in Costco Wholesale by 19.1% during the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after buying an additional 130 shares during the period. 71.22% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Co. (NASDAQ COST) opened at $186.63 on Monday. The stock has a market capitalization of $81,970.00, a P/E ratio of 29.67, a PEG ratio of 3.14 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. Costco Wholesale Co. has a twelve month low of $150.00 and a twelve month high of $195.35.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 25.45% and a net margin of 2.05%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. sell-side analysts forecast that Costco Wholesale Co. will post 6.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.

In related news, Director Richard M. Libenson sold 20,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.03, for a total value of $3,860,600.00. Following the sale, the director now directly owns 3,919 shares in the company, valued at $756,484.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Timothy L. Rose sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on 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 owns 52,529 shares in the company, valued at $10,148,602.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,842 shares of company stock worth $10,347,448. Company insiders own 0.74% of the company’s stock.

Several research firms have commented on COST. Barclays reaffirmed a “buy” rating and set a $208.00 price target on shares of Costco Wholesale in a research report on Tuesday, December 19th. Vetr raised Costco Wholesale from a “sell” rating to a “hold” rating and set a $186.56 price target on the stock in a research report on Monday, December 18th. BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $192.73 to $215.00 in a research report on Monday, December 18th. Susquehanna Bancshares lifted their price target on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday, December 15th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, December 15th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $187.32.

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

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