Renaissance Investment Group LLC Boosts Stake in Costco Wholesale Co. (COST)

Renaissance Investment Group LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,324 shares of the retailer’s stock after buying an additional 205 shares during the period. Costco Wholesale accounts for 2.2% of Renaissance Investment Group LLC’s holdings, making the stock its 19th largest position. Renaissance Investment Group LLC’s holdings in Costco Wholesale were worth $4,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norinchukin Bank The increased its stake in Costco Wholesale by 0.9% in the third quarter. Norinchukin Bank The now owns 45,564 shares of the retailer’s stock valued at $6,949,000 after buying an additional 411 shares during the period. Chesley Taft & Associates LLC increased its stake in Costco Wholesale by 2.6% in the third quarter. Chesley Taft & Associates LLC now owns 88,686 shares of the retailer’s stock valued at $13,526,000 after buying an additional 2,214 shares during the period. Hosking Partners LLP increased its stake in Costco Wholesale by 13.9% in the third quarter. Hosking Partners LLP now owns 520,001 shares of the retailer’s stock valued at $79,305,000 after buying an additional 63,639 shares during the period. Teachers Advisors LLC increased its stake in Costco Wholesale by 12.1% in the third quarter. Teachers Advisors LLC now owns 672,838 shares of the retailer’s stock valued at $102,615,000 after buying an additional 72,678 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Costco Wholesale by 5.8% in the third quarter. Public Employees Retirement Association of Colorado now owns 764,116 shares of the retailer’s stock valued at $116,535,000 after buying an additional 41,738 shares during the period. 73.12% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Costco Wholesale Co. (NASDAQ:COST) traded up 0.46% on Friday, reaching $170.93. 1,748,330 shares of the company’s stock traded hands. The firm has a market capitalization of $75.03 billion, a price-to-earnings ratio of 31.53 and a beta of 0.89. Costco Wholesale Co. has a 52 week low of $138.57 and a 52 week high of $178.71. The company has a 50 day moving average price of $168.11 and a 200 day moving average price of $160.94.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.19. The business earned $29.77 billion during the quarter, compared to the consensus estimate of $29.75 billion. Costco Wholesale had a net margin of 2.02% and a return on equity of 20.06%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. On average, equities research analysts predict that Costco Wholesale Co. will post $5.66 earnings per share for the current fiscal year.

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Several analysts recently weighed in on the stock. Barclays PLC upgraded shares of Costco Wholesale from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $170.00 to $185.00 in a report on Thursday. Jefferies Group LLC restated a “hold” rating and issued a $156.00 price target on shares of Costco Wholesale in a research note on Thursday. Vetr downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $180.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, April 7th. Finally, Guggenheim restated a “neutral” rating and issued a $167.00 price target on shares of Costco Wholesale in a research note on Friday, April 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $179.28.

In other news, Director James D. Sinegal sold 100,000 shares of the company’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $166.35, for a total value of $16,635,000.00. Following the sale, the director now owns 717,296 shares of the company’s stock, valued at approximately $119,322,189.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $166.95, for a total transaction of $667,800.00. Following the completion of the sale, the vice president now directly owns 44,049 shares in the company, valued at approximately $7,353,980.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,948 shares of company stock worth $20,932,141. 0.74% of the stock is owned by insiders.

Costco Wholesale Company Profile

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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