Bowling Portfolio Management LLC Purchases New Shares in Costco Wholesale Co. (NASDAQ:COST)

Bowling Portfolio Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,241 shares of the retailer’s stock, valued at approximately $441,000.

A number of other hedge funds have also recently made changes to their positions in COST. Winslow Capital Management LLC purchased a new position in Costco Wholesale in the 2nd quarter valued at $178,629,000. 1832 Asset Management L.P. lifted its position in shares of Costco Wholesale by 59.4% in the first quarter. 1832 Asset Management L.P. now owns 1,537,077 shares of the retailer’s stock worth $450,013,000 after buying an additional 572,815 shares during the last quarter. FMR LLC lifted its position in shares of Costco Wholesale by 4.8% in the second quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock worth $3,662,043,000 after buying an additional 551,799 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Costco Wholesale by 110.8% in the first quarter. The Manufacturers Life Insurance Company now owns 894,576 shares of the retailer’s stock worth $255,071,000 after buying an additional 470,248 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Costco Wholesale by 15.5% in the second quarter. Principal Financial Group Inc. now owns 1,797,829 shares of the retailer’s stock worth $545,119,000 after buying an additional 240,891 shares during the last quarter. Institutional investors own 68.20% of the company’s stock.

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Costco Wholesale from $305.00 to $310.00 and gave the stock a “hold” rating in a research report on Thursday, October 8th. They noted that the move was a valuation call. Robert W. Baird boosted their price objective on Costco Wholesale from $335.00 to $375.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Oppenheimer boosted their price objective on Costco Wholesale from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Credit Suisse Group boosted their price objective on Costco Wholesale from $328.00 to $370.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Finally, Atlantic Securities assumed coverage on Costco Wholesale in a research report on Monday, July 13th. They set an “overweight” rating and a $375.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $368.54.

In related news, Director Kenneth D. Denman sold 300 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $355.69, for a total transaction of $106,707.00. Following the sale, the director now directly owns 4,433 shares in the company, valued at approximately $1,576,773.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 1,250 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $335.84, for a total value of $419,800.00. Following the sale, the director now owns 25,497 shares in the company, valued at $8,562,912.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,804 shares of company stock worth $5,460,267. 0.22% of the stock is owned by corporate insiders.

Shares of COST stock traded up $4.96 during trading hours on Friday, hitting $381.54. The company had a trading volume of 2,460,490 shares, compared to its average volume of 2,887,887. Costco Wholesale Co. has a 12 month low of $271.28 and a 12 month high of $384.87. The firm has a market capitalization of $168.35 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 4.70 and a beta of 0.69. The firm’s fifty day moving average is $351.05 and its 200 day moving average is $322.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.13.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 24th. The retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $52.03 billion. During the same period in the prior year, the company posted $2.69 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Costco Wholesale Co. will post 9.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $2.80 dividend on an annualized basis and a yield of 0.73%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.64%.

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.

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

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