Navellier & Associates Inc lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,300 shares of the retailer’s stock after selling 200 shares during the quarter. Navellier & Associates Inc’s holdings in Costco Wholesale were worth $1,008,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of COST. Delta Asset Management LLC TN lifted its holdings in Costco Wholesale by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares during the period. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale in the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale in the second quarter valued at approximately $107,000. Mercer Capital Advisers Inc. lifted its holdings in Costco Wholesale by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares during the period. Finally, Ledyard National Bank lifted its holdings in Costco Wholesale by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after acquiring an additional 130 shares during the period. 71.49% of the stock is owned by institutional investors and hedge funds.
In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at approximately $1,150,152.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the transaction, the vice president now directly owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,842 shares of company stock worth $5,520,848. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The company had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the prior year, the business earned $1.77 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. equities research analysts anticipate that Costco Wholesale Co. will post 6.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.89%.
COST has been the subject of a number of analyst reports. Moffett Nathanson initiated coverage on Costco Wholesale in a report on Monday, December 4th. They issued a “buy” rating for the company. < Vetr raised Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price target for the company in a report on Monday, August 21st. Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, August 24th. Morgan Stanley cut Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Robert W. Baird restated an “outperform” rating and issued a $200.00 price objective on shares of Costco Wholesale in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $179.50.
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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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