Osborne Partners Capital Management LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,305 shares of the retailer’s stock after buying an additional 20 shares during the period. Osborne Partners Capital Management LLC’s holdings in Costco Wholesale Corporation were worth $1,968,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Main Street Research LLC increased its stake in Costco Wholesale Corporation by 4.9% in the first quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock worth $10,850,000 after buying an additional 3,023 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock worth $1,048,798,000 after buying an additional 79,201 shares during the last quarter. Swiss National Bank increased 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 last quarter. Palo Capital Inc. increased its stake in Costco Wholesale Corporation by 0.7% in the second quarter. Palo Capital Inc. now owns 7,669 shares of the retailer’s stock worth $1,227,000 after buying an additional 50 shares during the last quarter. Finally, Weik Investment Services Inc. increased its stake in Costco Wholesale Corporation by 0.5% in the first quarter. Weik Investment Services Inc. now owns 14,148 shares of the retailer’s stock worth $2,372,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.
Costco Wholesale Corporation (NASDAQ COST) traded down 0.28% during midday trading on Friday, reaching $158.13. The company had a trading volume of 1,091,300 shares. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The stock has a market capitalization of $69.35 billion, a price-to-earnings ratio of 27.45 and a beta of 0.93. The company has a 50-day moving average price of $155.36 and a 200-day moving average price of $167.42. Costco Wholesale Corporation also saw some unusual options trading on Thursday. Investors purchased 6,031 put options on the company. This represents an increase of approximately 231% compared to the average volume of 1,822 put options.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The company had revenue of $28.86 billion for the quarter, compared to the consensus estimate of $28.57 billion. During the same quarter in the previous year, the business earned $1.24 EPS. Costco Wholesale Corporation’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s payout ratio is currently 34.66%.
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A number of analysts have recently weighed in on COST shares. Vetr upgraded Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $168.75 target price for the company in a research report on Tuesday, July 11th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 target price on shares of Costco Wholesale Corporation in a research report on Thursday, May 4th. BidaskClub downgraded Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Cowen and Company set a $180.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $179.11.
In related news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the transaction, the director now owns 4,974 shares in the company, valued at approximately $792,109.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John D. Mckay sold 3,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $181.60, for a total value of $544,800.00. Following the transaction, the insider now 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 90 days, insiders have sold 15,000 shares of company stock worth $2,677,430. 0.74% of the stock is owned by company insiders.
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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