First Allied Advisory Services Inc. cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,967 shares of the retailer’s stock after selling 6,513 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Costco Wholesale were worth $2,450,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Northstar Group Inc. grew its position in shares of Costco Wholesale by 1.0% in the second quarter. Northstar Group Inc. now owns 19,977 shares of the retailer’s stock valued at $3,195,000 after purchasing an additional 197 shares during the period. Trust Co. of Vermont boosted its holdings in Costco Wholesale by 3.6% in the second quarter. Trust Co. of Vermont now owns 36,058 shares of the retailer’s stock valued at $5,767,000 after acquiring an additional 1,257 shares during the last quarter. Trust Co. of Toledo NA OH boosted its holdings in Costco Wholesale by 13.2% in the second quarter. Trust Co. of Toledo NA OH now owns 2,887 shares of the retailer’s stock valued at $462,000 after acquiring an additional 337 shares during the last quarter. Hollencrest Securities LLC lifted its stake in shares of Costco Wholesale by 52.9% during the second quarter. Hollencrest Securities LLC now owns 4,915 shares of the retailer’s stock worth $786,000 after purchasing an additional 1,700 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in shares of Costco Wholesale during the second quarter worth about $430,000. 72.06% of the stock is owned by institutional investors.
Costco Wholesale Co. (COST) traded up $3.20 during midday trading on Wednesday, hitting $187.35. 2,172,049 shares of the stock were exchanged, compared to its average volume of 2,720,000. Costco Wholesale Co. has a 1-year low of $150.00 and a 1-year high of $199.88. 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 firm has a market capitalization of $82,280.00, a P/E ratio of 29.79, a PEG ratio of 2.96 and a beta of 0.99.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion for 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%. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. analysts anticipate that Costco Wholesale Co. will post 6.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 15th. Costco Wholesale’s payout ratio is 31.80%.
In related news, VP James P. Murphy sold 5,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $187.48, for a total value of $937,400.00. Following the completion of the sale, the vice president now owns 53,834 shares in the company, valued at $10,092,798.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $193.41, for a total transaction of $580,230.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,673,770.14. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $17,408,817 over the last three months. Company insiders own 0.58% of the company’s stock.
A number of research analysts have commented on the company. Vetr upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective on the stock in a research note on Monday, February 5th. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Argus boosted their price target on Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research note on Monday. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 price target on the stock in a research note on Friday, January 12th. Finally, Robert W. Baird reissued a “buy” rating and issued a $215.00 price objective on shares of Costco Wholesale in a report on Friday, December 15th. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Buy” and an average target price of $190.36.
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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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