Palladium Partners LLC lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 18.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,623 shares of the retailer’s stock after selling 1,525 shares during the period. Palladium Partners LLC’s holdings in Costco Wholesale Corporation were worth $1,111,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Guggenheim Capital LLC boosted its stake in shares of Costco Wholesale Corporation by 4.2% in the fourth quarter. Guggenheim Capital LLC now owns 429,650 shares of the retailer’s stock worth $68,791,000 after buying an additional 17,385 shares in the last quarter. Capco Asset Management LLC purchased a new position in shares of Costco Wholesale Corporation during the fourth quarter worth $5,186,000. Ellington Management Group LLC raised its position in shares of Costco Wholesale Corporation by 68.4% in the fourth quarter. Ellington Management Group LLC now owns 6,400 shares of the retailer’s stock worth $1,025,000 after buying an additional 2,600 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Costco Wholesale Corporation by 91.3% in the fourth quarter. Ancora Advisors LLC now owns 9,042 shares of the retailer’s stock worth $1,447,000 after buying an additional 4,316 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in shares of Costco Wholesale Corporation during the fourth quarter worth $704,000. 74.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 0.38% on Monday, hitting $155.85. 409,403 shares of the company traded hands. The company has a market capitalization of $68.35 billion, a PE ratio of 27.06 and a beta of 0.93. The stock’s 50-day moving average price is $158.29 and its 200-day moving average price is $168.02. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data 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. The company had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
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A number of brokerages recently weighed in on COST. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG upgraded shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. Sanford C. Bernstein reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, April 27th. Finally, Barclays PLC restated an “overweight” rating and issued a $190.00 price objective (up from $185.00) on shares of Costco Wholesale Corporation in a research note on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $179.11.
In related news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the sale, the director now owns 5,974 shares in the company, valued at $957,512.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale Corporation stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the completion of the sale, the insider now owns 28,786 shares of the company’s stock, valued at approximately $5,219,477.52. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $2,677,430 in the last quarter. Insiders own 0.74% of the company’s stock.
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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