Piedmont Investment Advisors LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,344 shares of the retailer’s stock after acquiring an additional 836 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Costco Wholesale were worth $14,929,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Delta Asset Management LLC TN raised its position 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 during the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $107,000. Mercer Capital Advisers Inc. raised its position 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 during the last quarter. Finally, Ledyard National Bank raised its position 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 during the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. J P Morgan Chase & Co restated a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a research report on Monday. Moffett Nathanson initiated coverage on Costco Wholesale in a research report on Monday. They set a “buy” rating for the company. < Vetr downgraded Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 price target for the company. in a report on Friday, December 1st. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a report on Thursday, November 30th. Finally, Stifel Nicolaus boosted their price target on Costco Wholesale from $179.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 30th. One 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. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $179.50.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The business had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 EPS. research analysts predict that Costco Wholesale Co. will post 6.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. Costco Wholesale’s payout ratio is 32.89%.
In other news, insider John D. Mckay sold 8,111 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the completion of the sale, the insider now directly owns 66,751 shares in the company, valued at approximately $11,533,237.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $183.26, for a total value of $549,780.00. Following the sale, the director now owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,842 shares of company stock valued at $5,520,848. Insiders own 0.74% of the company’s stock.
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Costco Wholesale 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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