Alpine Global Management LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 114.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the retailer’s stock after purchasing an additional 3,205 shares during the period. Alpine Global Management LLC’s holdings in Costco Wholesale were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in COST. Delta Asset Management LLC TN grew its position in Costco Wholesale by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after purchasing an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Costco Wholesale in the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale in the 2nd quarter valued at about $107,000. Mercer Capital Advisers Inc. grew its position in shares of Costco Wholesale by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares during the period. Finally, Ledyard National Bank grew its position in shares of Costco Wholesale by 19.1% in the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after acquiring an additional 130 shares during the period. 71.46% of the stock is owned by institutional investors and hedge funds.
In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now owns 6,974 shares in the company, valued at approximately $1,150,152.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $170.95, for a total transaction of $512,850.00. Following the completion of the sale, the chief financial officer now owns 35,225 shares of the company’s stock, valued at approximately $6,021,713.75. The disclosure for this sale can be found here. Insiders sold a total of 29,842 shares of company stock valued at $4,971,068 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The company had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. Costco Wholesale’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 EPS. research analysts forecast that Costco Wholesale Co. will post 6.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is presently 32.89%.
COST has been the subject of a number of analyst reports. Deutsche Bank reissued a “hold” rating and issued a $172.00 price objective on shares of Costco Wholesale in a research report on Tuesday, September 5th. Citigroup lifted their price objective on shares of Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a research report on Friday, October 6th. Oppenheimer reissued a “buy” rating and issued a $185.00 price objective on shares of Costco Wholesale in a research report on Thursday, August 31st. Morgan Stanley downgraded shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $178.71.
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About Costco Wholesale
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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