Friedberg Investment Management Sells 12,333 Shares of Costco Wholesale Co. (NASDAQ:COST)

Friedberg Investment Management decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 61.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,690 shares of the retailer’s stock after selling 12,333 shares during the quarter. Costco Wholesale comprises approximately 2.0% of Friedberg Investment Management’s investment portfolio, making the stock its 18th biggest position. Friedberg Investment Management’s holdings in Costco Wholesale were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new position in shares of Costco Wholesale in the 2nd quarter valued at $101,000. Jacobus Wealth Management Inc. acquired a new stake in Costco Wholesale in the third quarter valued at $103,000. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale in the second quarter valued at $107,000. Mercer Capital Advisers Inc. increased its holdings in Costco Wholesale by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after purchasing an additional 23 shares during the period. Finally, Ledyard National Bank increased its holdings in Costco Wholesale by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

A number of analysts have weighed in on COST shares. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Citigroup reaffirmed a “buy” rating and issued a $190.00 price target (up previously from $187.00) on shares of Costco Wholesale in a research report on Monday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $190.00 price target (up previously from $184.00) on shares of Costco Wholesale in a research report on Friday, October 6th. Jefferies Group reaffirmed a “hold” rating and issued a $162.00 price target (down previously from $168.00) on shares of Costco Wholesale in a research report on Friday, October 6th. Finally, Oppenheimer set a $185.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Friday, October 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and a consensus price target of $188.90.

In other Costco Wholesale news, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $170.95, for a total value of $512,850.00. Following the sale, the chief financial officer now owns 35,225 shares in the company, valued at $6,021,713.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the completion of the sale, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,027 shares of company stock valued at $15,872,935. Insiders own 0.58% of the company’s stock.

Costco Wholesale Co. (COST) opened at $191.53 on Wednesday. The company has a market cap of $84,120.00, a price-to-earnings ratio of 30.45, a PEG ratio of 3.18 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. Costco Wholesale Co. has a 1 year low of $150.00 and a 1 year high of $195.35.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. sell-side analysts anticipate that Costco Wholesale Co. will post 6.61 earnings per share for the current fiscal year.

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Costco Wholesale 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.

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

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