Crow Point Partners LLC Takes $354,000 Position in Costco Wholesale Co. (COST)

Crow Point Partners LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,157 shares of the retailer’s stock, valued at approximately $354,000.

Several other large investors have also recently added to or reduced their stakes in COST. Dai Ichi Life Insurance Company Ltd raised its position in Costco Wholesale by 107.8% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 67,456 shares of the retailer’s stock worth $11,312,000 after buying an additional 35,000 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Costco Wholesale by 0.4% during the 1st quarter. Arizona State Retirement System now owns 120,095 shares of the retailer’s stock worth $20,139,000 after purchasing an additional 500 shares during the period. Blair William & Co. IL grew its stake in shares of Costco Wholesale by 4.6% during the 1st quarter. Blair William & Co. IL now owns 613,112 shares of the retailer’s stock worth $104,119,000 after purchasing an additional 26,929 shares during the period. Accredited Investors Inc. grew its stake in shares of Costco Wholesale by 0.8% during the 1st quarter. Accredited Investors Inc. now owns 2,150 shares of the retailer’s stock worth $361,000 after purchasing an additional 17 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $202,000. Institutional investors and hedge funds own 70.88% of the company’s stock.

Costco Wholesale Co. (COST) traded up $2.20 during trading hours on Tuesday, reaching $188.32. The company’s stock had a trading volume of 2,509,194 shares, compared to its average volume of 2,990,000. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market capitalization of $82,710.00, a PE ratio of 29.94, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. 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 earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. Costco Wholesale’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. sell-side analysts anticipate that Costco Wholesale Co. will post 6.52 EPS for the current fiscal year.

In related news, Director Richard M. Libenson sold 20,000 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $193.03, for a total transaction of $3,860,600.00. Following the sale, the director now owns 3,919 shares of the company’s stock, valued at $756,484.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction on 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 directly owns 35,225 shares in the company, valued at approximately $6,021,713.75. The disclosure for this sale can be found here. Insiders sold 56,842 shares of company stock worth $10,182,528 in the last three months. 0.58% of the stock is owned by corporate insiders.

COST has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $173.00 price target on shares of Costco Wholesale in a research note on Monday, October 9th. Vetr cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $171.07 price target on the stock. in a research note on Monday, November 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $200.00 target price on shares of Costco Wholesale in a research note on Monday, December 4th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, September 19th. Finally, Bank of America reiterated a “buy” rating and set a $192.00 price target on shares of Costco Wholesale in a report on Monday, October 9th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $187.32.

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About Costco Wholesale

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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