Columbia Asset Management Holds Position in Costco Wholesale Corporation (COST)
Columbia Asset Management held its stake in Costco Wholesale Corporation (NASDAQ:COST) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,675 shares of the retailer’s stock at the close of the 2nd quarter. Columbia Asset Management’s holdings in Costco Wholesale Corporation were worth $587,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. State Street Corp increased its holdings in Costco Wholesale Corporation by 1.3% during the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock valued at $3,040,476,000 after buying an additional 239,479 shares during the last quarter. FMR LLC increased its holdings in Costco Wholesale Corporation 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 buying an additional 177,200 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Costco Wholesale Corporation by 62.0% during the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after buying an additional 1,753,741 shares during the last quarter. Janus Capital Management LLC increased its holdings in Costco Wholesale Corporation by 8.6% during the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock valued at $768,494,000 after buying an additional 361,581 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in Costco Wholesale Corporation by 13.9% during the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock valued at $732,000,000 after buying an additional 532,896 shares during the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have commented on the stock. Vetr cut shares of Costco Wholesale Corporation from a “buy” rating to a “hold” rating and set a $171.07 target price for the company. in a report on Monday, November 6th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, October 20th. TheStreet raised shares of Costco Wholesale Corporation from a “c” rating to a “b” rating in a report on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Costco Wholesale Corporation in a report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $173.00 target price on shares of Costco Wholesale Corporation in a report on Monday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $178.34.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at $171.36 on Friday. Costco Wholesale Corporation has a 12 month low of $145.38 and a 12 month high of $183.18. The firm has a market cap of $73,899.31, a price-to-earnings ratio of 29.06, a PEG ratio of 2.70 and a beta of 0.93. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. sell-side analysts expect that Costco Wholesale Corporation will post 6.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio is currently 32.89%.
In other news, Director Richard M. Libenson sold 2,350 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the sale, the director now owns 4,109 shares of the company’s stock, valued at $665,658. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the completion of the sale, the director now directly owns 6,974 shares in the company, valued at approximately $1,099,032.66. The disclosure for this sale can be found here. In the last three months, insiders sold 19,731 shares of company stock worth $3,214,389. 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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