Bruderman Asset Management LLC Buys New Stake in Costco Wholesale Corporation (COST)
Bruderman Asset Management LLC bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 870 shares of the retailer’s stock, valued at approximately $139,000.
A number of other large investors also recently added to or reduced their stakes in COST. Delta Asset Management LLC TN lifted its stake in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares during the period. Almanack Investment Partners LLC. acquired a new stake in Costco Wholesale Corporation during the 2nd quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale Corporation during the 2nd quarter valued at approximately $107,000. Mercer Capital Advisers Inc. lifted its stake in Costco Wholesale Corporation by 3.5% during 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 lifted its stake in Costco Wholesale Corporation by 19.1% during 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. 72.76% of the stock is currently owned by institutional investors.
In other news, Director Richard M. Libenson sold 2,350 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares of the company’s stock, valued at $665,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider now directly owns 66,751 shares of the company’s stock, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. Insiders have sold 30,842 shares of company stock valued at $5,128,658 in the last ninety days. Insiders own 0.74% of the company’s stock.
Several analysts have commented on the stock. Wells Fargo & Company set a $170.00 price objective on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a research note on Thursday, October 5th. Citigroup Inc. lifted their price objective on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the company a “hold” rating in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. set a $185.00 price objective on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. Morgan Stanley cut shares of Costco Wholesale Corporation 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 note on Friday, October 6th. Finally, UBS AG restated a “buy” rating and set a $190.00 price objective on shares of Costco Wholesale Corporation in a research note on Friday, October 6th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $178.34.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $171.44 on Wednesday. Costco Wholesale Corporation has a 1-year low of $149.50 and a 1-year high of $183.18. The stock has a market cap of $74,920.00, a price-to-earnings ratio of 29.46, a PEG ratio of 2.74 and a beta of 0.93. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59.
Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities research analysts forecast that Costco Wholesale Corporation will post 6.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s payout ratio is 32.89%.
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Costco Wholesale Corporation 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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