InterOcean Capital LLC Takes Position in Costco Wholesale Co. (COST)

InterOcean Capital LLC purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, HoldingsChannel.com reports. The fund purchased 871 shares of the retailer’s stock, valued at approximately $205,000.

Other hedge funds have also recently made changes to their positions in the company. Lee Financial Co increased its holdings in Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock worth $130,000 after purchasing an additional 216 shares in the last quarter. Joel Isaacson & Co. LLC increased its holdings in Costco Wholesale by 14.0% in the third quarter. Joel Isaacson & Co. LLC now owns 1,787 shares of the retailer’s stock worth $420,000 after purchasing an additional 220 shares in the last quarter. Telemus Capital LLC increased its holdings in Costco Wholesale by 6.8% in the third quarter. Telemus Capital LLC now owns 3,499 shares of the retailer’s stock worth $822,000 after purchasing an additional 224 shares in the last quarter. Cypress Capital Management LLC WY increased its holdings in shares of Costco Wholesale by 8.0% during the second quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after acquiring an additional 225 shares in the last quarter. Finally, Northstar Asset Management LLC increased its holdings in shares of Costco Wholesale by 16.6% during the third quarter. Northstar Asset Management LLC now owns 1,586 shares of the retailer’s stock valued at $373,000 after acquiring an additional 226 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ COST opened at $232.08 on Tuesday. Costco Wholesale Co. has a one year low of $175.79 and a one year high of $245.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. The firm has a market cap of $101.35 billion, a PE ratio of 33.98, a PEG ratio of 2.95 and a beta of 0.90.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The company had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. During the same period in the previous year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Costco Wholesale Co. will post 7.71 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.98%. Costco Wholesale’s payout ratio is 33.38%.

In related news, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total transaction of $5,029,200.00. Following the sale, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $226.76, for a total value of $5,215,480.00. Following the sale, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,312 shares of company stock worth $13,847,852. 0.58% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently commented on COST shares. Telsey Advisory Group boosted their price objective on Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Loop Capital boosted their price objective on Costco Wholesale to $250.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Cowen restated a “buy” rating and set a $240.00 price objective on shares of Costco Wholesale in a report on Friday, August 10th. Argus set a $255.00 price objective on Costco Wholesale and gave the company a “buy” rating in a report on Tuesday, August 21st. Finally, Oppenheimer boosted their price objective on Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $237.08.

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Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

Further Reading: Asset Allocation Models, Which is Right For You?

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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