D.A. Davidson & CO. grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,871 shares of the retailer’s stock after acquiring an additional 8,238 shares during the quarter. D.A. Davidson & CO.’s holdings in Costco Wholesale were worth $19,650,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in COST. Brightworth increased its stake in Costco Wholesale by 0.3% during the 2nd quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after purchasing an additional 4 shares in the last quarter. Pioneer Trust Bank N A OR increased its stake in Costco Wholesale by 0.4% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after purchasing an additional 7 shares in the last quarter. SVA Plumb Wealth Management LLC increased its stake in Costco Wholesale by 0.3% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after purchasing an additional 7 shares in the last quarter. Marshall & Sullivan Inc. WA increased its stake in Costco Wholesale by 0.6% during the 1st quarter. Marshall & Sullivan Inc. WA now owns 1,590 shares of the retailer’s stock worth $272,000 after purchasing an additional 10 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in Costco Wholesale by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,515 shares of the retailer’s stock worth $402,000 after purchasing an additional 12 shares in the last quarter. 71.49% of the stock is owned by institutional investors.
In other news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at $1,585,932.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Richard A. Galanti sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the sale, the vice president now owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,842 shares of company stock worth $5,520,848. 0.74% of the stock is owned by insiders.
A number of analysts recently issued reports on COST shares. Deutsche Bank reissued a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup raised their price target on shares of Costco Wholesale from $155.00 to $187.00 and gave the stock a “hold” rating in a research note on Friday, October 6th. Oppenheimer reaffirmed a “buy” rating and set a $185.00 price target on shares of Costco Wholesale in a research note on Thursday, August 31st. Morgan Stanley cut shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Zacks Investment Research cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $179.50.
Shares of Costco Wholesale Co. (NASDAQ:COST) traded up $4.43 during mid-day trading on Monday, hitting $189.56. The stock had a trading volume of 5,772,961 shares, compared to its average volume of 3,106,015. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $189.88. The firm has a market capitalization of $82,840.00, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. analysts forecast that Costco Wholesale Co. will post 6.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is currently 32.89%.
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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.
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