Arizona State Retirement System Cuts Stake in Costco Wholesale Corporation (COST)
Arizona State Retirement System decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,895 shares of the retailer’s stock after selling 1,200 shares during the period. Arizona State Retirement System’s holdings in Costco Wholesale Corporation were worth $19,015,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in COST. Delta Asset Management LLC TN increased its stake in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after buying an additional 65 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale Corporation during the 2nd quarter worth $107,000. Mercer Capital Advisers Inc. increased its stake in Costco Wholesale Corporation by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares during the period. Mosaic Family Wealth LLC increased its stake in Costco Wholesale Corporation by 16.7% during the 1st 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. Finally, Ledyard National Bank increased its stake in Costco Wholesale Corporation by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after buying an additional 130 shares during the period. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 157.09 on Friday. The company has a 50 day moving average of $159.96 and a 200-day moving average of $164.83. The company has a market capitalization of $68.68 billion, a P/E ratio of 25.84 and a beta of 0.94. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. Costco Wholesale Corporation also saw some unusual options trading activity on Thursday. Stock traders purchased 21,435 call options on the company. This represents an increase of 266% compared to the typical daily volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the prior year, the company posted $1.77 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the transaction, the director now directly owns 6,974 shares in the company, valued at approximately $1,150,152.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $481,760. Corporate insiders own 0.74% of the company’s stock.
COST has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale Corporation in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $173.00 price objective (down from $191.00) on shares of Costco Wholesale Corporation in a report on Friday, June 23rd. BidaskClub lowered shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Northcoast Research raised shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Monday, June 19th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $178.39.
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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