MetLife Investment Advisors LLC Takes Position in Costco Wholesale Co. (COST)

MetLife Investment Advisors LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 135,209 shares of the retailer’s stock, valued at approximately $25,165,000.

Other institutional investors also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd increased its stake in shares of Costco Wholesale by 2.4% during the 4th quarter. Magellan Asset Management Ltd now owns 6,588,695 shares of the retailer’s stock worth $1,226,288,000 after purchasing an additional 154,320 shares during the last quarter. Newport Wealth Strategies Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth $684,000. HBK Sorce Advisory LLC increased its stake in shares of Costco Wholesale by 5.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,220 shares of the retailer’s stock worth $1,344,000 after purchasing an additional 369 shares during the last quarter. Element Capital Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth $46,793,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Costco Wholesale by 9.5% during the 4th quarter. Glenmede Trust Co. NA now owns 136,426 shares of the retailer’s stock worth $25,391,000 after purchasing an additional 11,847 shares during the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

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Several brokerages have recently commented on COST. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $205.00 price target (down previously from $209.00) on shares of Costco Wholesale in a research note on Thursday, March 8th. Vetr lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $195.68 price target on the stock. in a research note on Tuesday, February 20th. Argus increased their price target on shares of Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, BMO Capital Markets set a $223.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $190.76.

In other news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $188.62, for a total transaction of $943,100.00. Following the completion of the transaction, the insider now directly owns 30,853 shares of the company’s stock, valued at approximately $5,819,492.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roland Michael Vachris sold 5,200 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $187.98, for a total transaction of $977,496.00. Following the transaction, the vice president now directly owns 15,694 shares of the company’s stock, valued at $2,950,158.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,859 shares of company stock valued at $20,176,650. Insiders own 0.74% of the company’s stock.

Shares of Costco Wholesale stock opened at $188.43 on Friday. The company has a quick ratio of 0.44, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $199.88. The firm has a market capitalization of $82,686.85, a price-to-earnings ratio of 30.10, a P/E/G ratio of 2.68 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same period last year, the company earned $1.17 earnings per share. Costco Wholesale’s revenue for the quarter was up 10.8% on a year-over-year basis. equities research analysts expect that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is presently 34.36%.

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

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