CIBC World Markets Inc. Has $10,927,000 Position in Costco Wholesale Corp. (COST)
CIBC World Markets Inc. increased its position in Costco Wholesale Corp. (NASDAQ:COST) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 71,649 shares of the retailer’s stock after buying an additional 3,110 shares during the period. CIBC World Markets Inc.’s holdings in Costco Wholesale Corp. were worth $10,927,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. FCM Investments TX bought a new position in shares of Costco Wholesale Corp. during the second quarter worth about $133,000. Global X Management Co. LLC increased its position in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares in the last quarter. Signaturefd LLC increased its position in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares in the last quarter. Finally, Peddock Capital Advisors LLC acquired a new position in shares of Costco Wholesale Corp. during the third quarter worth $181,000. Institutional investors and hedge funds own 71.95% of the company’s stock.
Costco Wholesale Corp. (NASDAQ:COST) traded down 0.46% on Wednesday, reaching $150.79. The company’s stock had a trading volume of 850,388 shares. Costco Wholesale Corp. has a 12 month low of $138.57 and a 12 month high of $169.73. The firm has a market cap of $65.91 billion, a P/E ratio of 28.29 and a beta of 0.85. The firm’s 50 day moving average is $149.38 and its 200-day moving average is $155.57.
Costco Wholesale Corp. (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The firm earned $35.73 billion during the quarter. During the same quarter last year, the business earned $1.73 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Costco Wholesale Corp. will post $5.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. Costco Wholesale Corp.’s payout ratio is 33.71%.
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A number of research analysts have recently weighed in on the company. Nomura set a $185.00 price target on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Saturday, October 1st. Cowen and Company set a $170.00 price target on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Sunday, October 2nd. BMO Capital Markets set a $180.00 price target on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Thursday, October 20th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $171.00 price target on shares of Costco Wholesale Corp. in a report on Friday, November 4th. Finally, Royal Bank Of Canada lifted their price target on Costco Wholesale Corp. from $177.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale Corp. presently has a consensus rating of “Buy” and an average price target of $172.11.
In related news, Director James D. Sinegal sold 20,114 shares of Costco Wholesale Corp. stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $149.02, for a total value of $2,997,388.28. Following the transaction, the director now directly owns 768,136 shares of the company’s stock, valued at $114,467,626.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of Costco Wholesale Corp. stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $151.12, for a total transaction of $604,480.00. Following the completion of the transaction, the vice president now directly owns 51,045 shares in the company, valued at $7,713,920.40. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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