Garcia Hamilton & Associates LP DE reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 39.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,219 shares of the retailer’s stock after selling 1,428 shares during the quarter. Garcia Hamilton & Associates LP DE’s holdings in Costco Wholesale were worth $355,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delta Asset Management LLC TN raised its position in Costco Wholesale by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Costco Wholesale in the second quarter valued at about $101,000. Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale in the second quarter valued at about $107,000. Mercer Capital Advisers Inc. raised its position in shares of Costco Wholesale by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after purchasing an additional 23 shares during the period. Finally, Ledyard National Bank raised its position in shares of Costco Wholesale by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after purchasing an additional 130 shares during the period. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on COST. Vetr lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective on the stock. in a research report on Wednesday, September 27th. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, November 30th. J P Morgan Chase & Co reissued a “buy” rating and issued a $200.00 price objective on shares of Costco Wholesale in a research report on Monday. Zacks Investment Research lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $173.00 price objective on shares of Costco Wholesale in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $179.50.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The business had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the prior year, the company posted $1.77 earnings per share. Costco Wholesale’s revenue was up 15.7% compared to the same quarter last year. research analysts anticipate that Costco Wholesale Co. will post 6.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.89%.
In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the sale, the director now directly owns 6,974 shares in the company, valued at $1,150,152.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, the director now owns 8,654 shares in the company, valued at $1,585,932.04. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock worth $5,520,848 over the last 90 days. 0.74% of the stock is currently owned by corporate insiders.
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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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