South Texas Money Management Ltd. lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 45,303 shares of the retailer’s stock after selling 845 shares during the quarter. South Texas Money Management Ltd.’s holdings in Costco Wholesale Corporation were worth $7,245,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in COST. Mirae Asset Global Investments Co. Ltd. increased its position in Costco Wholesale Corporation by 24.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,175 shares of the retailer’s stock valued at $18,978,000 after purchasing an additional 22,590 shares during the period. Davidson & Garrard Inc. increased its position in Costco Wholesale Corporation by 72.4% during the 1st quarter. Davidson & Garrard Inc. now owns 8,591 shares of the retailer’s stock valued at $1,441,000 after purchasing an additional 3,609 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Costco Wholesale Corporation by 8.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,709 shares of the retailer’s stock valued at $287,000 after purchasing an additional 126 shares during the period. GHP Investment Advisors Inc. increased its position in Costco Wholesale Corporation by 1.7% during the 1st quarter. GHP Investment Advisors Inc. now owns 14,997 shares of the retailer’s stock valued at $2,515,000 after purchasing an additional 252 shares during the period. Finally, Ingalls & Snyder LLC increased its position in Costco Wholesale Corporation by 151.1% during the 1st quarter. Ingalls & Snyder LLC now owns 4,126 shares of the retailer’s stock valued at $692,000 after purchasing an additional 2,483 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at $170.98 on Friday. Costco Wholesale Corporation has a 12-month low of $149.52 and a 12-month high of $183.18. The stock has a market capitalization of $74,716.55, a price-to-earnings ratio of 29.38, a PEG ratio of 2.73 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The firm had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same period last year, the firm posted $1.77 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. sell-side analysts predict that Costco Wholesale Corporation will post 6.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio is presently 32.89%.
A number of equities analysts have issued reports on COST shares. Deutsche Bank AG restated a “hold” rating and set a $172.00 price target on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Citigroup Inc. increased their price target on Costco Wholesale Corporation from $155.00 to $187.00 and gave the stock a “hold” rating in a report on Friday, October 6th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Morgan Stanley cut Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Zacks Investment Research cut Costco Wholesale Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Costco Wholesale Corporation presently has a consensus rating of “Buy” and an average target price of $178.34.
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In related news, VP Dennis R. Zook sold 5,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total value of $809,600.00. Following the completion of the sale, the vice president now owns 626 shares of the company’s stock, valued at approximately $101,361.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,842 shares of company stock valued at $5,128,658. Insiders own 0.74% of the company’s stock.
About Costco Wholesale Corporation
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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