Accredited Investors Inc. Raises Stake in Costco Wholesale Corporation (COST)
Accredited Investors Inc. increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,150 shares of the retailer’s stock after buying an additional 17 shares during the period. Accredited Investors Inc.’s holdings in Costco Wholesale Corporation were worth $361,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Mercer Capital Advisers Inc. boosted 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 period. Mosaic Family Wealth LLC boosted its stake in 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 boosted its stake in 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. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Costco Wholesale Corporation by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock worth $154,000 after buying an additional 540 shares during the period. Finally, Barometer Capital Management Inc. acquired a new stake in Costco Wholesale Corporation during the first quarter worth about $168,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 0.2592% during midday trading on Monday, hitting $156.6728. 395,694 shares of the stock traded hands. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The stock has a 50 day moving average of $155.32 and a 200 day moving average of $167.38. The company has a market capitalization of $68.72 billion, a P/E ratio of 27.2001 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. Costco Wholesale Corporation’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Equities research analysts predict that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.27%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 34.66%.
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A number of analysts have issued reports on COST shares. Gordon Haskett started coverage on shares of Costco Wholesale Corporation in a research note on Tuesday, May 9th. They issued an “accumulate” rating and a $191.00 target price for the company. BMO Capital Markets set a $195.00 target price on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Friday, May 26th. Oppenheimer Holdings, Inc. set a $185.00 target price on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Saturday, May 27th. Royal Bank Of Canada lifted their target price on shares of Costco Wholesale Corporation from $182.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, May 26th. Finally, Stifel Nicolaus lifted their target price on shares of Costco Wholesale Corporation from $185.00 to $191.00 and gave the company a “buy” rating in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $179.11.
In related news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total value of $906,600.00. Following the sale, the insider now directly owns 28,786 shares of the company’s stock, valued at $5,219,477.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the sale, the director now directly owns 5,974 shares in the company, valued at $957,512.72. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $2,677,430 over the last ninety days. 0.74% of the stock is currently owned by insiders.
About Costco Wholesale Corporation
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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