Harbour Capital Advisors LLC Takes Position in Costco Wholesale Corp. (COST)

Harbour Capital Advisors LLC Takes Position in Costco Wholesale Corp. (COST)

Harbour Capital Advisors LLC acquired a new stake in Costco Wholesale Corp. (NASDAQ:COST) during the second quarter, Holdings Channel reports. The institutional investor acquired 8,601 shares of the retailer’s stock, valued at approximately $1,351,000. Costco Wholesale Corp. comprises about 0.8% of Harbour Capital Advisors LLC’s portfolio, making the stock its 29th largest position.

Other hedge funds also recently bought and sold shares of the company. FCM Investments TX acquired a new position in shares of Costco Wholesale Corp. during the second quarter worth $133,000. Global X Management Co. LLC increased its position in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares in the last quarter. Signaturefd LLC increased its position in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares in the last quarter. Finally, Suncoast Equity Management acquired a new position in shares of Costco Wholesale Corp. during the second quarter worth $204,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Costco Wholesale Corp. (NASDAQ:COST) opened at 149.36 on Monday. The company has a 50-day moving average price of $149.10 and a 200 day moving average price of $155.30. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73. The company has a market cap of $65.29 billion, a PE ratio of 28.02 and a beta of 0.85.

Costco Wholesale Corp. (NASDAQ:COST) last released its earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. The firm earned $35.73 billion during the quarter. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, analysts forecast that Costco Wholesale Corp. will post $5.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. Costco Wholesale Corp.’s payout ratio is 33.71%.

A number of brokerages have recently weighed in on COST. Nomura set a $185.00 target price on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Saturday, October 1st. Cowen and Company set a $170.00 target price on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Sunday, October 2nd. BMO Capital Markets set a $180.00 target price on Costco Wholesale Corp. and gave the company a “buy” rating in a report on Thursday, October 20th. Citigroup Inc. upped their target price on Costco Wholesale Corp. from $155.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Finally, Jefferies Group restated a “hold” rating and issued a $135.00 price objective on shares of Costco Wholesale Corp. in a report on Friday, September 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.11.

In other news, VP Richard A. Galanti sold 1,930 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $143.53, for a total transaction of $277,012.90. Following the completion of the sale, the vice president now directly owns 36,650 shares in the company, valued at approximately $5,260,374.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James D. Sinegal sold 20,114 shares of the company’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $149.02, for a total value of $2,997,388.28. Following the sale, the director now owns 768,136 shares of the company’s stock, valued at $114,467,626.72. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

About Costco Wholesale Corp.

Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.

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