Peregrine Asset Advisers Inc. Sells 250 Shares of Costco Wholesale Corporation (COST)
Peregrine Asset Advisers Inc. cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,027 shares of the retailer’s stock after selling 250 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Costco Wholesale Corporation were worth $644,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Delta Asset Management LLC TN grew its position in Costco Wholesale Corporation by 11.6% in the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in Costco Wholesale Corporation in the 2nd quarter worth about $101,000. Northwest Investment Counselors LLC bought a new stake in Costco Wholesale Corporation in the 2nd quarter worth about $107,000. Mercer Capital Advisers Inc. grew its position in Costco Wholesale Corporation by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after purchasing an additional 23 shares in the last quarter. Finally, Ledyard National Bank grew its position in Costco Wholesale Corporation by 19.1% in the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after purchasing an additional 130 shares in the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation (NASDAQ COST) opened at $171.36 on Friday. The company has a market cap of $74,882.60, a price-to-earnings ratio of 29.44, a PEG ratio of 2.74 and a beta of 0.93. Costco Wholesale Corporation has a twelve month low of $145.38 and a twelve month high of $183.18. 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 issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. equities research analysts expect that Costco Wholesale Corporation will post 6.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, November 16th. Costco Wholesale Corporation’s payout ratio is 32.89%.
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A number of brokerages have issued reports on COST. Vetr downgraded shares of Costco Wholesale Corporation from a “buy” rating to a “hold” rating and set a $171.07 price objective for the company. in a research report on Monday, November 6th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Costco Wholesale Corporation in a research report on Friday, October 20th. TheStreet raised shares of Costco Wholesale Corporation from a “c” rating to a “b” rating in a research report on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Costco Wholesale Corporation in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Costco Wholesale Corporation in a research report on Monday, October 9th. Twelve research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $178.34.
In other news, 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 value of $157,590.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul G. Moulton sold 4,381 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $168.16, for a total transaction of $736,708.96. Following the completion of the transaction, the vice president now directly owns 52,858 shares in the company, valued at approximately $8,888,601.28. The disclosure for this sale can be found here. Insiders sold a total of 19,731 shares of company stock worth $3,214,389 in the last three months. Insiders own 0.74% of the company’s stock.
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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