Horizon Investments LLC acquired a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,020 shares of the retailer’s stock, valued at approximately $516,000.
Several other large investors also recently made changes to their positions in the company. Bluestein R H & Co. lifted its position in shares of Costco Wholesale Corporation by 0.4% during the 2nd quarter. Bluestein R H & Co. now owns 266,121 shares of the retailer’s stock valued at $42,561,000 after acquiring an additional 1,058 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of Costco Wholesale Corporation by 4.0% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,625 shares of the retailer’s stock valued at $2,819,000 after purchasing an additional 670 shares in the last quarter. Zevenbergen Capital Investments LLC purchased a new stake in shares of Costco Wholesale Corporation in the second quarter valued at $501,000. Connors Investor Services Inc. lifted its holdings in shares of Costco Wholesale Corporation by 9.4% in the second quarter. Connors Investor Services Inc. now owns 47,745 shares of the retailer’s stock valued at $7,636,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Costco Wholesale Corporation by 166.4% in the second quarter. Quantbot Technologies LP now owns 11,945 shares of the retailer’s stock valued at $1,910,000 after purchasing an additional 7,461 shares in the last quarter. Institutional investors own 73.54% of the company’s stock.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now owns 6,974 shares in the company, valued at $1,150,152.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John D. Mckay sold 8,111 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the completion of the sale, the insider now owns 66,751 shares of the company’s stock, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,842 shares of company stock valued at $5,128,658. 0.74% of the stock is owned by corporate insiders.
Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter last year, the company earned $1.77 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. research analysts forecast that Costco Wholesale Corporation will post 6.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s payout ratio is presently 32.89%.
A number of analysts have recently issued reports on COST shares. TheStreet upgraded Costco Wholesale Corporation from a “c” rating to a “b” rating in a report on Monday, October 9th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Stifel Nicolaus set a $173.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 24th. Finally, UBS AG restated a “buy” rating and issued a $190.00 target price on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $178.34.
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About Costco Wholesale Corporation
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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