South State Corp Purchases 525 Shares of Costco Wholesale Corporation (NASDAQ:COST)
South State Corp boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,496 shares of the retailer’s stock after buying an additional 525 shares during the period. Costco Wholesale Corporation makes up about 1.2% of South State Corp’s portfolio, making the stock its 22nd largest position. South State Corp’s holdings in Costco Wholesale Corporation were worth $8,971,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in COST. Mercer Capital Advisers Inc. raised its stake in Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock worth $111,000 after buying an additional 201 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the period. CKW Financial Group increased its position in shares of Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $135,000 after buying an additional 200 shares during the period. Barometer Capital Management Inc. acquired a new position in shares of Costco Wholesale Corporation during the first quarter worth about $168,000. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of Costco Wholesale Corporation during the first quarter worth about $201,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.
Costco Wholesale Corporation (NASDAQ COST) traded down 0.94% during mid-day trading on Friday, hitting $157.08. The company had a trading volume of 2,747,925 shares. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The company has a market cap of $68.89 billion, a PE ratio of 27.27 and a beta of 0.93. The company’s 50 day moving average price is $155.32 and its 200-day moving average price is $167.38. Costco Wholesale Corporation also saw unusually large options trading on Thursday. Stock traders purchased 6,031 put options on the stock. This represents an increase of approximately 231% compared to the average daily volume of 1,822 put options.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 EPS. Equities research analysts anticipate that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is 34.66%.
A number of equities analysts recently issued reports on the company. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Costco Wholesale Corporation in a report on Thursday, April 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $190.00 price target (up from $185.00) on shares of Costco Wholesale Corporation in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $179.11.
In related news, insider Daniel M. Hines sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was 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 approximately $5,219,477.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the transaction, the director now directly owns 5,974 shares of the company’s stock, valued at approximately $957,512.72. The disclosure for this sale can be found here. In the last quarter, 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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