South Texas Money Management Ltd. trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund 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 were worth $7,245,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. grew its position in Costco Wholesale by 4.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock valued at $544,809,000 after purchasing an additional 129,106 shares during the last quarter. Mechanics Bank Trust Department lifted its stake in Costco Wholesale by 4.8% during the 2nd quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock valued at $5,366,000 after acquiring an additional 1,529 shares during the period. Cadinha & Co. LLC lifted its stake in Costco Wholesale by 7.3% during the 2nd quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock valued at $19,934,000 after acquiring an additional 8,518 shares during the period. Stephens Inc. AR lifted its stake in Costco Wholesale by 3.1% during the 1st quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock valued at $7,446,000 after acquiring an additional 1,350 shares during the period. Finally, Intersect Capital LLC lifted its stake in Costco Wholesale by 143.4% during the 2nd quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock valued at $861,000 after acquiring an additional 3,171 shares during the period. Hedge funds and other institutional investors own 71.49% of the company’s stock.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the sale, the director now directly owns 8,654 shares in the company, valued at $1,585,932.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,842 shares of company stock valued at $5,520,848. Corporate insiders own 0.74% of the company’s stock.
Several equities analysts have issued reports on the stock. Moffett Nathanson began coverage on shares of Costco Wholesale in a research note on Monday. They set a “buy” rating on the stock. < Vetr cut shares of Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 price objective on the stock. in a research note on Friday. J P Morgan Chase & Co restated a “buy” rating and set a $200.00 target price on shares of Costco Wholesale in a research note on Monday. Stifel Nicolaus raised their target price on shares of Costco Wholesale from $179.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $179.50.
Shares of Costco Wholesale Co. (NASDAQ:COST) traded up $4.43 on Monday, reaching $189.56. The company had a trading volume of 5,772,961 shares, compared to its average volume of 3,106,015. The company has a market capitalization of $82,840.00, a P/E ratio of 31.81, a PEG ratio of 2.95 and a beta of 0.98. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $189.88. 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 (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. During the same period last year, the company earned $1.77 earnings per share. Costco Wholesale’s revenue was up 15.7% on a year-over-year basis. sell-side analysts anticipate that Costco Wholesale Co. will post 6.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is 32.89%.
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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.
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