Costco Wholesale Co. (COST) Shares Bought by Sterling Capital Management LLC
Sterling Capital Management LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,099 shares of the retailer’s stock after acquiring an additional 583 shares during the quarter. Sterling Capital Management LLC’s holdings in Costco Wholesale were worth $1,455,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Delta Asset Management LLC TN increased its holdings in shares of 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 during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $107,000. Mercer Capital Advisers Inc. increased its holdings 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 last quarter. Finally, Ledyard National Bank increased its holdings 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 last quarter. 71.49% of the stock is owned by institutional investors and hedge funds.
In other news, Director John W. Meisenbach sold 3,000 shares of the firm’s 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 transaction, the director now directly owns 8,654 shares in the company, valued at $1,585,932.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,842 shares of company stock valued at $5,520,848. Company insiders own 0.74% of the company’s stock.
Several equities research analysts recently commented on COST shares. Moffett Nathanson started coverage on Costco Wholesale in a report on Monday. They issued a “buy” rating for the company. < Vetr raised Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price target for the company in a report on Monday, August 21st. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Thursday, August 24th. Morgan Stanley cut Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Costco Wholesale in a report on Monday, September 25th. One equities 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 currently has a consensus rating of “Buy” and an average target price of $179.50.
Costco Wholesale Co. (NASDAQ:COST) opened at $187.82 on Wednesday. The firm has a market capitalization of $80,899.88, a P/E ratio of 31.81, a P/E/G ratio of 2.95 and a beta of 0.98. Costco Wholesale Co. has a 52-week low of $150.00 and a 52-week high of $191.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same period last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. analysts anticipate that Costco Wholesale Co. will post 6.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio is currently 32.89%.
Costco Wholesale 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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