Cidel Asset Management Inc. cut its position in Costco Wholesale Corporation (NASDAQ:COST) by 46.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 41,780 shares of the retailer’s stock after selling 35,840 shares during the period. Cidel Asset Management Inc.’s holdings in Costco Wholesale Corporation were worth $7,417,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Wealthfront Inc. acquired a new stake in Costco Wholesale Corporation during the fourth quarter worth $1,990,000. Ibex Wealth Advisors raised its position in Costco Wholesale Corporation by 16.9% in the fourth quarter. Ibex Wealth Advisors now owns 5,596 shares of the retailer’s stock valued at $919,000 after buying an additional 810 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in Costco Wholesale Corporation during the fourth quarter valued at about $360,000. Norges Bank bought a new position in Costco Wholesale Corporation during the fourth quarter valued at about $553,367,000. Finally, Sowell Financial Services LLC bought a new position in Costco Wholesale Corporation during the fourth quarter valued at about $1,436,000. 73.91% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation (NASDAQ:COST) opened at 157.91 on Tuesday. The firm has a market capitalization of $69.26 billion, a P/E ratio of 27.41 and a beta of 0.93. The stock’s 50 day moving average is $155.49 and its 200 day moving average is $167.58. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. During the same period last year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.27%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 34.66%.
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Several research analysts have recently issued reports on the company. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. Stifel Nicolaus set a $173.00 price target on Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a research report on Friday, June 2nd. BidaskClub upgraded Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $168.75 target price on the stock in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $179.11.
In other news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the sale, the director now directly owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John D. Mckay sold 3,000 shares of Costco Wholesale Corporation stock in a transaction on Monday, June 5th. The stock was sold at an average price of $181.60, for a total transaction of $544,800.00. Following the sale, the insider now directly owns 62,607 shares of the company’s stock, valued at $11,369,431.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,000 shares of company stock valued at $2,677,430. Insiders own 0.74% of the company’s stock.
Costco Wholesale Corporation Company 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.
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