Graybill Bartz & Assoc Ltd. raised its position in Costco Wholesale Co. (NASDAQ:COST) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,622 shares of the retailer’s stock after buying an additional 447 shares during the quarter. Graybill Bartz & Assoc Ltd.’s holdings in Costco Wholesale were worth $2,074,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Delta Asset Management LLC TN grew its holdings in shares of Costco Wholesale 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 in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth $107,000. Mercer Capital Advisers Inc. grew its holdings in shares of Costco Wholesale 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 in the last quarter. Finally, Ledyard National Bank grew its holdings in shares of Costco Wholesale 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 in the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $188.86 on Tuesday. The firm has a market capitalization of $82,184.63, a PE ratio of 32.31, a PEG ratio of 3.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $191.22.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the 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 quarter in the prior year, the firm posted $1.77 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. sell-side analysts expect that Costco Wholesale Co. will post 6.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.06%. Costco Wholesale’s dividend payout ratio is currently 32.89%.
In related news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $160.58, for a total value of $802,900.00. Following the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock valued at $5,520,848 in the last ninety days. 0.74% of the stock is currently owned by insiders.
COST has been the topic of several analyst reports. Moffett Nathanson initiated coverage on Costco Wholesale in a report on Monday, December 4th. They set a “buy” rating on the stock. < Vetr raised Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 target price on the stock in a report on Monday, August 21st. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a report on Thursday, August 24th. Morgan Stanley lowered Costco Wholesale from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Robert W. Baird reissued an “outperform” rating and set a $200.00 target price on shares of Costco Wholesale in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average 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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