Conestoga Capital Advisors LLC continued to hold its stake in Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,525 shares of the retailer’s stock at the end of the second quarter. Conestoga Capital Advisors LLC’s holdings in Costco Wholesale Corporation were worth $404,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in COST. 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. Magellan Asset Management Ltd raised its stake in shares of Costco Wholesale Corporation by 13.9% in the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock worth $732,000,000 after buying an additional 532,896 shares during the period. 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. Swiss National Bank raised its stake in shares of Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after buying an additional 331,400 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Costco Wholesale Corporation by 40.8% in the first quarter. Teachers Advisors LLC now owns 1,089,081 shares of the retailer’s stock worth $182,628,000 after buying an additional 315,512 shares during the period. 74.14% of the stock is owned by institutional investors.
Costco Wholesale Corporation (COST) traded up 0.51% during midday trading on Friday, hitting $157.44. The company had a trading volume of 1,122,347 shares. The firm has a 50-day moving average price of $155.55 and a 200-day moving average price of $167.61. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The company has a market cap of $69.05 billion, a price-to-earnings ratio of 27.33 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last issued its earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. During the same quarter last year, the company earned $1.24 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Costco Wholesale Corporation will post $5.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, August 16th. 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 34.66%.
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A number of equities research analysts have issued reports on COST shares. Northcoast Research raised shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Tuesday, June 20th. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, July 7th. BMO Capital Markets lowered shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and cut their target price for the company from $185.00 to $160.00 in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) lowered shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and cut their target price for the company from $197.00 to $176.00 in a report on Friday, June 16th. Finally, BidaskClub lowered shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. One 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. The stock currently has a consensus rating of “Buy” and an average target price of $179.11.
In related news, insider John D. Mckay sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now 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 is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the transaction, the director now owns 5,974 shares in the company, valued at approximately $957,512.72. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock worth $2,677,430 in the last three months. Corporate 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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