Pinnacle Financial Partners Inc. Grows Holdings in Costco Wholesale Co. (COST)

Pinnacle Financial Partners Inc. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,050 shares of the retailer’s stock after purchasing an additional 716 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Costco Wholesale were worth $3,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. DnB Asset Management AS raised its stake in shares of Costco Wholesale by 9.2% in the second quarter. DnB Asset Management AS now owns 69,802 shares of the retailer’s stock valued at $14,587,000 after acquiring an additional 5,900 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Costco Wholesale by 45.8% in the second quarter. IFM Investors Pty Ltd now owns 19,819 shares of the retailer’s stock valued at $4,142,000 after acquiring an additional 6,227 shares during the period. Peachtree Investment Advisors Inc. raised its stake in shares of Costco Wholesale by 4.1% in the second quarter. Peachtree Investment Advisors Inc. now owns 10,785 shares of the retailer’s stock valued at $2,254,000 after acquiring an additional 425 shares during the period. YHB Investment Advisors Inc. raised its stake in shares of Costco Wholesale by 1.3% in the second quarter. YHB Investment Advisors Inc. now owns 54,053 shares of the retailer’s stock valued at $11,296,000 after acquiring an additional 696 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Costco Wholesale by 4.4% in the second quarter. Fisher Asset Management LLC now owns 2,597,844 shares of the retailer’s stock valued at $542,898,000 after acquiring an additional 109,028 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.

COST stock opened at $230.16 on Friday. The stock has a market capitalization of $100.86 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.94 and a beta of 0.91. Costco Wholesale Co. has a 12 month low of $163.78 and a 12 month high of $245.16. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.02. The company had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. On average, equities research analysts expect that Costco Wholesale Co. will post 7.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is 33.38%.

Several equities research analysts have recently weighed in on COST shares. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 22nd. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Loop Capital set a $265.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Thursday, September 6th. Finally, Oppenheimer increased their target price on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $237.94.

In other Costco Wholesale news, VP Richard A. Galanti sold 4,163 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total transaction of $945,958.49. Following the transaction, the vice president now owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $235.81, for a total transaction of $707,430.00. Following the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold a total of 64,312 shares of company stock worth $14,547,272 in the last three months. Insiders own 0.74% of the company’s stock.

Costco Wholesale 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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