RWC Asset Management LLP increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 65.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,896 shares of the retailer’s stock after buying an additional 18,992 shares during the period. RWC Asset Management LLP’s holdings in Costco Wholesale Corporation were worth $8,032,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd bought a new stake in Costco Wholesale Corporation during the fourth quarter valued at $896,000. Independent Advisor Alliance bought a new stake in Costco Wholesale Corporation during the fourth quarter valued at $2,061,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Costco Wholesale Corporation during the fourth quarter valued at $8,006,000. Lebenthal Asset Management LLC raised its stake in Costco Wholesale Corporation by 4.2% in the fourth quarter. Lebenthal Asset Management LLC now owns 5,654 shares of the retailer’s stock valued at $905,000 after buying an additional 229 shares in the last quarter. Finally, RB Capital Management LLC bought a new stake in Costco Wholesale Corporation during the fourth quarter valued at $2,048,000. Institutional investors own 74.04% of the company’s stock.
Shares of Costco Wholesale Corporation (COST) opened at 150.44 on Monday. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The firm has a 50 day moving average price of $164.54 and a 200 day moving average price of $168.41. The firm has a market cap of $65.98 billion, a P/E ratio of 26.12 and a beta of 0.94.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.09. The business had revenue of $28.86 billion for the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Analysts anticipate that Costco Wholesale Corporation will post $5.77 EPS for the current year.
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Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, May 4th. Cowen and Company restated an “outperform” rating on shares of Costco Wholesale Corporation in a research report on Tuesday, June 6th. BMO Capital Markets restated an “outperform” rating and set a $195.00 price target on shares of Costco Wholesale Corporation in a research report on Friday, June 2nd. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a research report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $176.00 in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Costco Wholesale Corporation currently has an average rating of “Buy” and a consensus target price of $179.11.
In other Costco Wholesale Corporation news, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total transaction of $906,600.00. Following the sale, the insider now owns 28,786 shares of the company’s stock, valued at $5,219,477.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John D. Mckay sold 3,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $181.60, for a total transaction of $544,800.00. Following the sale, the insider now directly owns 62,607 shares in the company, valued at approximately $11,369,431.20. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,518,180 in the last ninety days. Insiders own 0.74% of the company’s stock.
About Costco Wholesale Corporation
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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