CI Investments Inc. Buys 139,520 Shares of Costco Wholesale Co. (NASDAQ:COST)

CI Investments Inc. raised its position in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 210.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,712 shares of the retailer’s stock after purchasing an additional 139,520 shares during the period. CI Investments Inc.’s holdings in Costco Wholesale were worth $98,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock worth $21,898,934,000 after buying an additional 467,631 shares during the period. BlackRock Inc. raised its position in shares of Costco Wholesale by 0.8% in the first quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock worth $18,047,310,000 after buying an additional 261,972 shares in the last quarter. State Street Corp lifted its position in Costco Wholesale by 4.0% during the first quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock valued at $10,963,995,000 after purchasing an additional 738,447 shares during the last quarter. Fisher Asset Management LLC grew its position in Costco Wholesale by 3.7% in the first quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock worth $2,430,810,000 after acquiring an additional 150,655 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Costco Wholesale by 4.8% during the 1st quarter. Jennison Associates LLC now owns 3,271,513 shares of the retailer’s stock valued at $1,883,901,000 after buying an additional 151,287 shares in the last quarter. 66.83% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.5 %

Costco Wholesale stock traded up $2.54 during trading on Thursday, reaching $534.49. 1,288,249 shares of the company were exchanged, compared to its average volume of 1,994,013. The stock’s 50 day simple moving average is $491.76 and its two-hundred day simple moving average is $497.84. The company has a market capitalization of $236.57 billion, a P/E ratio of 40.68, a PEG ratio of 3.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.02 and a quick ratio of 0.46. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings data on Thursday, September 22nd. The retailer reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.03. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.44%. The firm had revenue of $72.09 billion during the quarter, compared to analyst estimates of $72 billion. During the same quarter in the prior year, the firm posted $3.90 earnings per share. Costco Wholesale’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Co. will post 14.45 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, October 28th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 27th. Costco Wholesale’s payout ratio is presently 27.40%.

Insider Activity

In related news, EVP Russell D. Miller sold 1,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $483.58, for a total value of $483,580.00. Following the completion of the transaction, the executive vice president now directly owns 11,593 shares in the company, valued at $5,606,142.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Costco Wholesale news, EVP Russell D. Miller sold 1,000 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $483.58, for a total value of $483,580.00. Following the transaction, the executive vice president now owns 11,593 shares of the company’s stock, valued at $5,606,142.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard A. Galanti sold 2,000 shares of Costco Wholesale stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $471.12, for a total transaction of $942,240.00. Following the sale, the chief financial officer now owns 29,318 shares of the company’s stock, valued at $13,812,296.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock valued at $3,134,235. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COST shares. Citigroup lifted their price target on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, November 18th. Loop Capital lowered their price target on Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Wells Fargo & Company lowered Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $600.00 to $490.00 in a report on Monday, November 7th. Finally, Morgan Stanley dropped their price target on shares of Costco Wholesale from $560.00 to $525.00 and set an “overweight” rating for the company in a research report on Friday, September 23rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $565.54.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.

Featured Articles

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.