Personal Capital Advisors Corp Increases Position in Costco Wholesale Corporation (COST)
Personal Capital Advisors Corp increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,518 shares of the retailer’s stock after buying an additional 9,735 shares during the period. Personal Capital Advisors Corp’s holdings in Costco Wholesale Corporation were worth $27,431,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Costco Wholesale Corporation by 1.3% in the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after buying an additional 239,479 shares in the last quarter. FMR LLC raised its stake in Costco Wholesale Corporation by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock valued at $2,028,898,000 after buying an additional 177,200 shares during the period. Bank of New York Mellon Corp raised its stake in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock valued at $1,048,798,000 after buying an additional 79,201 shares during the period. Ameriprise Financial Inc. raised its stake in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after buying an additional 1,753,741 shares during the period. Finally, Janus Capital Management LLC raised its stake in Costco Wholesale Corporation by 8.6% in the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock valued at $768,494,000 after buying an additional 361,581 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.
Shares of Costco Wholesale Corporation (COST) traded up 0.74% on Friday, hitting $152.45. 5,703,470 shares of the company were exchanged. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The firm’s 50-day moving average is $155.03 and its 200-day moving average is $167.02. The stock has a market capitalization of $66.86 billion, a PE ratio of 26.47 and a beta of 0.93. Costco Wholesale Corporation also was the target of unusually large options trading activity on Thursday. Stock investors bought 20,702 call options on the company. This represents an increase of 169% compared to the average daily volume of 7,689 call options.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous 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 year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 16th. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Costco Wholesale Corporation’s payout ratio is 34.66%.
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COST has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $185.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, May 4th. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, May 4th. Vetr upgraded Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $182.09 price objective for the company in a research note on Monday, May 8th. Gordon Haskett initiated coverage on Costco Wholesale Corporation in a research note on Tuesday, May 9th. They issued an “accumulate” rating and a $191.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on Costco Wholesale Corporation from $182.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $179.56.
In other news, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total transaction of $906,600.00. Following the completion of the sale, the insider now directly owns 28,786 shares in the company, valued at $5,219,477.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the sale, the director now owns 4,974 shares of the company’s stock, valued at $792,109.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $2,677,430. Insiders own 0.74% of the company’s stock.
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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