Selz Capital LLC bought a new position in Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 41,500 shares of the retailer’s stock, valued at approximately $6,637,000. Costco Wholesale Corporation comprises about 1.9% of Selz Capital LLC’s portfolio, making the stock its 13th largest position.
A number of other institutional investors have also modified their holdings of COST. State Street Corp boosted its position in shares of Costco Wholesale Corporation by 1.3% in the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after buying an additional 239,479 shares during the last quarter. FMR LLC raised its stake in shares of Costco Wholesale Corporation by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after buying an additional 177,200 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock worth $1,048,798,000 after buying an additional 79,201 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after buying an additional 1,753,741 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Costco Wholesale Corporation by 8.6% in the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after buying an additional 361,581 shares during the period. Institutional investors own 73.91% of the company’s stock.
Costco Wholesale Corporation (NASDAQ:COST) traded up 1.18% on Tuesday, hitting $158.92. 1,034,701 shares of the stock traded hands. The company has a market capitalization of $69.70 billion, a PE ratio of 27.59 and a beta of 0.93. The firm has a 50-day moving average price of $155.23 and a 200-day moving average price of $167.36. 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 released its earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $28.86 billion during the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. Costco Wholesale Corporation’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business earned $1.24 EPS. Analysts forecast that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 34.66%.
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A number of equities research analysts have issued reports on the stock. Bank of America Corporation reissued a “buy” rating and issued a $192.00 price target (up previously from $180.00) on shares of Costco Wholesale Corporation in a report on Sunday, May 28th. Deutsche Bank AG set a $172.00 price target on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reissued a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG raised shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Finally, BMO Capital Markets lowered shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $185.00 to $160.00 in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $179.56.
In related news, insider John D. Mckay sold 3,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $181.60, for a total value of $544,800.00. Following the completion of the sale, the insider now directly owns 62,607 shares in the company, valued at approximately $11,369,431.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 owns 4,974 shares of the company’s stock, valued at $792,109.50. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock valued at $2,677,430 over the last quarter. 0.74% of the stock is owned by company insiders.
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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