Tortoise Investment Management LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Tortoise Investment Management LLC raised its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,800 shares of the retailer’s stock after acquiring an additional 163 shares during the quarter. Tortoise Investment Management LLC’s holdings in Costco Wholesale were worth $850,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its position in shares of Costco Wholesale by 19.8% during the 3rd quarter. Empirical Finance LLC now owns 10,829 shares of the retailer’s stock worth $5,114,000 after buying an additional 1,788 shares during the last quarter. Glenview Trust Co grew its stake in shares of Costco Wholesale by 3.1% during the 3rd quarter. Glenview Trust Co now owns 6,560 shares of the retailer’s stock worth $3,098,000 after purchasing an additional 197 shares during the period. Berkeley Capital Partners LLC grew its stake in shares of Costco Wholesale by 4.6% during the 3rd quarter. Berkeley Capital Partners LLC now owns 723 shares of the retailer’s stock worth $342,000 after purchasing an additional 32 shares during the period. Retirement Systems of Alabama grew its stake in shares of Costco Wholesale by 18.6% during the 3rd quarter. Retirement Systems of Alabama now owns 229,329 shares of the retailer’s stock worth $108,305,000 after purchasing an additional 35,895 shares during the period. Finally, Nicholas Hoffman & Company LLC. boosted its position in shares of Costco Wholesale by 3.7% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 4,114 shares of the retailer’s stock worth $1,943,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Tigress Financial cut their price objective on shares of Costco Wholesale from $678.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, December 21st. MKM Partners cut their price objective on shares of Costco Wholesale from $512.00 to $484.00 in a report on Friday, December 9th. Stifel Nicolaus cut their price objective on shares of Costco Wholesale from $565.00 to $545.00 in a report on Friday, December 9th. Wells Fargo & Company cut their price objective on shares of Costco Wholesale from $490.00 to $450.00 in a report on Friday, December 9th. Finally, Sanford C. Bernstein started coverage on shares of Costco Wholesale in a research report on Tuesday, December 6th. They set an “outperform” rating and a $586.00 target price for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.78.

Costco Wholesale Stock Performance

Shares of COST opened at $492.11 on Wednesday. The business’s fifty day moving average price is $486.20 and its 200 day moving average price is $501.59. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The stock has a market capitalization of $218.36 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.61 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.03 and a quick ratio of 0.47.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings data on Thursday, December 8th. The retailer reported $3.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.04). Costco Wholesale had a return on equity of 28.83% and a net margin of 2.55%. The firm had revenue of $54.44 billion for the quarter, compared to the consensus estimate of $54.67 billion. Equities research analysts forecast that Costco Wholesale Co. will post 14.28 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Friday, February 3rd will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, February 2nd. Costco Wholesale’s payout ratio is 27.21%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 952 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $483.00, for a total value of $459,816.00. Following the sale, the director now directly owns 18,920 shares in the company, valued at $9,138,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Costco Wholesale news, Director Susan L. Decker sold 952 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $483.00, for a total value of $459,816.00. Following the sale, the director now directly owns 18,920 shares in the company, valued at $9,138,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 1,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $483.58, for a total value of $483,580.00. Following the completion of the sale, the executive vice president now owns 11,593 shares in the company, valued at $5,606,142.94. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

About Costco Wholesale

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Featured Stories

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:COSTGet Rating).

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

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.