Mogy Joel R Investment Counsel Inc. Grows Holdings in Costco Wholesale Co. (COST)

Mogy Joel R Investment Counsel Inc. grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,762 shares of the retailer’s stock after buying an additional 875 shares during the period. Costco Wholesale comprises 3.0% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 9th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Costco Wholesale were worth $17,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in shares of Costco Wholesale by 19.7% in the 3rd quarter. Park Avenue Securities LLC now owns 1,828 shares of the retailer’s stock worth $303,000 after purchasing an additional 301 shares during the last quarter. Provident Trust Co. bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $99,448,000. Barrett Asset Management LLC lifted its holdings in shares of Costco Wholesale by 2.4% in the 3rd quarter. Barrett Asset Management LLC now owns 32,059 shares of the retailer’s stock worth $5,267,000 after purchasing an additional 740 shares during the last quarter. Norinchukin Bank The lifted its holdings in shares of Costco Wholesale by 2.7% in the 3rd quarter. Norinchukin Bank The now owns 72,907 shares of the retailer’s stock worth $11,978,000 after purchasing an additional 1,907 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Costco Wholesale by 1.8% in the 3rd quarter. D.A. Davidson & CO. now owns 125,114 shares of the retailer’s stock worth $20,555,000 after purchasing an additional 2,243 shares during the last quarter. 70.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the transaction, the vice president now directly owns 41,396 shares in the company, valued at approximately $6,647,369.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Mckay sold 8,111 shares of Costco Wholesale stock in a transaction on Monday, November 13th. The shares were sold at an average price of $172.78, for a total value of $1,401,418.58. Following the transaction, the insider now owns 66,751 shares in the company, valued at $11,533,237.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,027 shares of company stock worth $14,914,835. 0.58% of the stock is owned by insiders.

Several brokerages recently issued reports on COST. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, December 15th. Susquehanna Bancshares raised their price target on Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a report on Friday, December 15th. BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $192.73 to $215.00 in a report on Monday, December 18th. Vetr raised Costco Wholesale from a “sell” rating to a “hold” rating and set a $186.56 price target on the stock in a report on Monday, December 18th. Finally, Barclays reissued a “buy” rating and issued a $208.00 price target on shares of Costco Wholesale in a report on Tuesday, December 19th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and a consensus price target of $188.90.

Costco Wholesale Co. (NASDAQ:COST) opened at $185.42 on Thursday. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $195.35. The stock has a market capitalization of $81,430.00, a price-to-earnings ratio of 29.48, a PEG ratio of 3.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. During the same period last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. sell-side analysts predict that Costco Wholesale Co. will post 6.59 earnings per share for the current year.

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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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