Dimensional Fund Advisors LP Raises Stake in Costco Wholesale Corporation (COST)
Dimensional Fund Advisors LP lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,236,171 shares of the retailer’s stock after purchasing an additional 158,892 shares during the quarter. Dimensional Fund Advisors LP owned about 0.28% of Costco Wholesale Corporation worth $197,695,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of COST. Delta Asset Management LLC TN increased its holdings in shares of Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in Costco Wholesale Corporation during the second quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new stake in Costco Wholesale Corporation during the second quarter worth approximately $107,000. Mercer Capital Advisers Inc. increased its stake in Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares during the last quarter. Finally, Ledyard National Bank increased its stake in Costco Wholesale Corporation by 19.1% during the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after acquiring an additional 130 shares during the last quarter. 73.54% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts have weighed in on COST shares. TheStreet raised Costco Wholesale Corporation from a “c” rating to a “b” rating in a research note on Monday, October 9th. Robert W. Baird reissued a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale Corporation in a research note on Friday, August 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 24th. UBS Group AG reissued a “buy” rating and set a $190.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Finally, Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $178.34.
In related news, Director Richard M. Libenson sold 2,350 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, VP Dennis R. Zook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the completion of the transaction, the vice president now directly owns 626 shares of the company’s stock, valued at approximately $101,361.92. The disclosure for this sale can be found here. Insiders sold 30,842 shares of company stock valued at $5,128,658 in the last quarter. 0.74% of the stock is owned by company insiders.
Shares of Costco Wholesale Corporation (COST) opened at $172.48 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $75,371.96, a P/E ratio of 29.64, a P/E/G ratio of 2.75 and a beta of 0.93. Costco Wholesale Corporation has a twelve month low of $150.00 and a twelve month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.06. The firm had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. Costco Wholesale Corporation’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 earnings per share. research analysts expect that Costco Wholesale Corporation will post 6.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. Costco Wholesale Corporation’s payout ratio is 32.89%.
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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