Costco Wholesale Corporation (NASDAQ:COST) Stake Decreased by Cambridge Trust Co.
Cambridge Trust Co. cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 17.2% during the first quarter, Holdings Channel reports. The fund owned 2,519 shares of the retailer’s stock after selling 525 shares during the period. Cambridge Trust Co.’s holdings in Costco Wholesale Corporation were worth $422,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of COST. Marshall & Sullivan Inc. WA boosted its stake in Costco Wholesale Corporation by 0.6% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,590 shares of the retailer’s stock valued at $272,000 after buying an additional 10 shares during the last quarter. Accredited Investors Inc. boosted its stake in Costco Wholesale Corporation by 0.8% in the first quarter. Accredited Investors Inc. now owns 2,150 shares of the retailer’s stock valued at $361,000 after buying an additional 17 shares during the last quarter. FormulaFolio Investments LLC boosted its stake in Costco Wholesale Corporation by 0.5% in the first quarter. FormulaFolio Investments LLC now owns 3,530 shares of the retailer’s stock valued at $592,000 after buying an additional 18 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in Costco Wholesale Corporation by 0.7% in the first quarter. McKinley Carter Wealth Services Inc. now owns 3,063 shares of the retailer’s stock valued at $514,000 after buying an additional 20 shares during the last quarter. Finally, Ironwood Investment Management LLC boosted its stake in Costco Wholesale Corporation by 1.2% in the first quarter. Ironwood Investment Management LLC now owns 1,703 shares of the retailer’s stock valued at $286,000 after buying an additional 20 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded up 0.80% during midday trading on Monday, hitting $157.91. 530,521 shares of the stock were exchanged. The firm’s 50-day moving average is $155.46 and its 200-day moving average is $167.57. The stock has a market cap of $69.26 billion, a price-to-earnings ratio of 27.41 and a beta of 0.93. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last issued its earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm had revenue of $28.86 billion during the quarter, compared to analysts’ expectations of $28.57 billion. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 34.66%.
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Several research firms have weighed in on COST. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a research report on Friday, May 26th. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $185.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Saturday, May 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $190.00 price objective (up from $185.00) on shares of Costco Wholesale Corporation in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $179.11.
In related news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total transaction of $906,600.00. Following the completion of the transaction, the insider now owns 28,786 shares of the company’s stock, valued at $5,219,477.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the transaction, the director now directly owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is currently owned by corporate insiders.
Costco Wholesale Corporation Company 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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