South Texas Money Management Ltd. lowered its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,148 shares of the retailer’s stock after selling 2,412 shares during the period. South Texas Money Management Ltd.’s holdings in Costco Wholesale Corporation were worth $7,739,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after buying an additional 1,753,741 shares during the period. Swiss National Bank boosted its stake in Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after buying an additional 331,400 shares during the period. American Century Companies Inc. raised its stake in Costco Wholesale Corporation by 15.2% in the first quarter. American Century Companies Inc. now owns 2,197,302 shares of the retailer’s stock valued at $368,466,000 after buying an additional 289,788 shares in the last quarter. Karp Capital Management Corp bought a new stake in Costco Wholesale Corporation during the first quarter valued at about $46,978,000. Finally, Columbus Circle Investors bought a new stake in Costco Wholesale Corporation during the first quarter valued at about $39,312,000. Institutional investors own 73.91% of the company’s stock.
Shares of Costco Wholesale Corporation (COST) opened at 157.08 on Friday. The stock has a market capitalization of $68.89 billion, a P/E ratio of 27.27 and a beta of 0.93. The stock has a 50 day moving average price of $155.32 and a 200 day moving average price of $167.38. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. Costco Wholesale Corporation also was the target of unusually large options trading on Thursday. Stock investors acquired 6,031 put options on the stock. This represents an increase of 231% compared to the typical daily volume of 1,822 put options.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The firm had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Equities analysts forecast that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s payout ratio is presently 34.66%.
COST has been the subject of several recent research reports. Robert W. Baird reissued an “outperform” rating and set a $200.00 price target on shares of Costco Wholesale Corporation in a report on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and set a $187.00 price target on shares of Costco Wholesale Corporation in a report on Wednesday, April 26th. Vetr lowered Costco Wholesale Corporation from a “buy” rating to a “hold” rating and set a $179.76 price target for the company. in a report on Wednesday, April 26th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Thursday, April 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corporation in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $179.11.
In other news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total transaction of $160,280.00. Following the sale, the director now owns 5,974 shares of the company’s stock, valued at approximately $957,512.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John D. Mckay sold 3,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $181.60, for a total transaction of $544,800.00. Following the sale, the insider now directly owns 62,607 shares in the company, valued at approximately $11,369,431.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,000 shares of company stock worth $2,677,430. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale Corporation Company 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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