GW&K Investment Management LLC Reduces Stake in Costco Wholesale Co. (COST)

GW&K Investment Management LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 15.6% in the 4th quarter, Holdings Channel reports. The firm owned 60,044 shares of the retailer’s stock after selling 11,137 shares during the quarter. GW&K Investment Management LLC’s holdings in Costco Wholesale were worth $11,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. raised its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock worth $168,000 after purchasing an additional 3 shares during the last quarter. SVA Plumb Wealth Management LLC raised its position in Costco Wholesale by 0.3% in the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after buying an additional 7 shares during the last quarter. Cetera Investment Advisers raised its position in Costco Wholesale by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock worth $223,000 after buying an additional 7 shares during the last quarter. Ray Gerald L & Associates Ltd. raised its position in Costco Wholesale by 1.6% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 1,285 shares of the retailer’s stock worth $206,000 after buying an additional 20 shares during the last quarter. Finally, Keel Point LLC raised its position in Costco Wholesale by 1.6% in the 2nd quarter. Keel Point LLC now owns 1,722 shares of the retailer’s stock worth $275,000 after buying an additional 27 shares during the last quarter. 72.27% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $188.62, for a total transaction of $943,100.00. Following the sale, the insider now owns 30,853 shares in the company, valued at approximately $5,819,492.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $170.95, for a total value of $512,850.00. Following the sale, the chief financial officer now owns 35,225 shares in the company, valued at approximately $6,021,713.75. The disclosure for this sale can be found here. Insiders have sold a total of 102,296 shares of company stock worth $19,323,086 over the last ninety days. Insiders own 0.74% of the company’s stock.

A number of equities analysts have weighed in on COST shares. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, January 5th. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 target price for the company in a research report on Monday. Moffett Nathanson started coverage on Costco Wholesale in a research report on Monday, December 4th. They issued a “buy” rating for the company. < Oppenheimer boosted their target price on Costco Wholesale from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Monday, January 8th. Finally, Guggenheim reaffirmed a "hold" rating on shares of Costco Wholesale in a research report on Wednesday, November 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of "Buy" and a consensus price target of $189.97.

Costco Wholesale Co. (COST) opened at $183.19 on Thursday. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $199.88. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $81,238.98, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 3.02 and a beta of 0.99.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $31.01 billion. During the same period in the prior year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts anticipate that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.

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Costco Wholesale Company 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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

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

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