Beaumont Financial Partners LLC Grows Holdings in Costco Wholesale Corporation (COST)

Beaumont Financial Partners LLC raised its stake in Costco Wholesale Corporation (NASDAQ:COST) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,660 shares of the retailer’s stock after buying an additional 179 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Costco Wholesale Corporation were worth $265,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN increased its stake in shares of Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Costco Wholesale Corporation during the 2nd quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Costco Wholesale Corporation during the 2nd quarter worth $107,000. Mercer Capital Advisers Inc. increased its stake in shares of Costco Wholesale Corporation by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after purchasing an additional 23 shares during the last quarter. Finally, Ledyard National Bank increased its stake in shares of Costco Wholesale Corporation by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

In related news, Director Richard M. Libenson sold 2,350 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares in the company, valued at approximately $665,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $157.59, for a total transaction of $157,590.00. Following the sale, the director now owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The disclosure for this sale can be found here. Insiders have sold a total of 30,842 shares of company stock valued at $5,128,658 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.

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COST has been the topic of several analyst reports. Vetr upgraded shares of Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research note on Monday, August 21st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 24th. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Morgan Stanley lowered shares of Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Cowen and Company set a $180.00 price target on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Twelve research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $178.34.

Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $170.98 on Friday. The stock has a market cap of $74,716.55, a PE ratio of 29.38, a P/E/G ratio of 2.73 and a beta of 0.93. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale Corporation has a 1 year low of $149.52 and a 1 year high of $183.18.

Costco Wholesale Corporation (NASDAQ:COST) last announced its 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. The business had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. analysts expect that Costco Wholesale Corporation will post 6.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 32.89%.

Costco Wholesale Corporation 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.

Institutional Ownership by Quarter for Costco Wholesale Corporation (NASDAQ:COST)

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