Braun Stacey Associates Inc. Lowers Stake in Costco Wholesale Co. (COST)
Braun Stacey Associates Inc. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 44.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,055 shares of the retailer’s stock after selling 23,708 shares during the period. Braun Stacey Associates Inc.’s holdings in Costco Wholesale were worth $4,773,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Costco Wholesale by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after purchasing an additional 937,121 shares during the period. BlackRock Inc. lifted its position in Costco Wholesale by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares during the last quarter. Capital World Investors lifted its position in Costco Wholesale by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares during the last quarter. FMR LLC lifted its position in Costco Wholesale by 1.5% during the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock valued at $2,028,898,000 after acquiring an additional 177,200 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Costco Wholesale by 2.3% during the second quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after acquiring an additional 207,675 shares during the last quarter. 71.49% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on COST shares. Vetr raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a research report on Monday, August 21st. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, August 24th. Robert W. Baird reissued a “buy” rating and set a $200.00 target price on shares of Costco Wholesale in a research report on Friday, August 25th. Cowen reissued an “outperform” rating and set a $182.00 target price (up previously from $180.00) on shares of Costco Wholesale in a research report on Tuesday, August 29th. Finally, BMO Capital Markets set a $160.00 target price on shares of Costco Wholesale and gave the company a “hold” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and an average target price of $184.20.
In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the sale, the director now owns 6,974 shares in the company, valued at $1,150,152.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at approximately $1,585,932.04. The disclosure for this sale can be found here. Insiders have sold a total of 32,842 shares of company stock worth $5,520,848 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
Costco Wholesale Co. (COST) opened at $192.73 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $195.35. The stock has a market cap of $84,221.08, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.41%. The business had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. During the same quarter in the prior year, the business posted $1.24 EPS. Costco Wholesale’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities research analysts expect that Costco Wholesale Co. will post 6.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid 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 yield of 1.04%. Costco Wholesale’s payout ratio is 31.80%.
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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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