QS Investors LLC Purchases 2,461 Shares of Costco Wholesale Co. (COST)
QS Investors LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,433 shares of the retailer’s stock after purchasing an additional 2,461 shares during the quarter. QS Investors LLC’s holdings in Costco Wholesale were worth $5,667,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in COST. Delta Asset Management LLC TN increased its position in shares of Costco Wholesale by 11.6% during the 2nd 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. bought a new position in shares of Costco Wholesale during the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC bought a new position in Costco Wholesale during the 2nd quarter worth approximately $107,000. Mercer Capital Advisers Inc. grew its position in Costco Wholesale by 3.5% during the 2nd 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 grew its position in Costco Wholesale by 19.1% during the 2nd 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. Hedge funds and other institutional investors own 73.54% of the company’s stock.
Several equities analysts recently issued reports on COST shares. Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research report on Monday, August 21st. Deutsche Bank AG restated a “hold” rating and set a $172.00 price target on shares of Costco Wholesale in a research report on Tuesday, September 5th. Citigroup Inc. restated a “buy” rating and set a $190.00 price target (up from $187.00) on shares of Costco Wholesale in a research report on Monday, October 9th. Royal Bank Of Canada restated an “outperform” rating and set a $190.00 price target (up from $184.00) on shares of Costco Wholesale in a research report on Friday, October 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $162.00 price objective (down previously from $168.00) on shares of Costco Wholesale in a report on Friday, October 6th. Twelve research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $178.34.
In other Costco Wholesale news, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction on Friday, November 10th. The stock was sold at an average price of $170.95, for a total value of $512,850.00. Following the completion of the sale, the chief financial officer now owns 35,225 shares of the company’s stock, valued at approximately $6,021,713.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Mckay sold 8,111 shares of Costco Wholesale stock in a transaction on Monday, November 13th. The stock was sold at an average price of $172.78, for a total value of $1,401,418.58. Following the completion of the sale, the insider now directly owns 66,751 shares of the company’s stock, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. In the last three months, insiders sold 30,842 shares of company stock valued at $5,128,658. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale Co. (NASDAQ:COST) opened at $171.62 on Friday. The stock has a market capitalization of $74,996.22, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.93. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $183.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99.
Costco Wholesale (NASDAQ:COST) last posted its 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 business had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 EPS. equities research analysts forecast that Costco Wholesale Co. will post 6.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders 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 of this dividend is Thursday, November 16th. Costco Wholesale’s payout ratio is 32.89%.
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Costco Wholesale 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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