TCI Wealth Advisors Inc. boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,761 shares of the retailer’s stock after purchasing an additional 205 shares during the period. TCI Wealth Advisors Inc.’s holdings in Costco Wholesale Corporation were worth $1,241,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Delta Asset Management LLC TN raised its stake in Costco Wholesale Corporation by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the period. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale Corporation in the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Costco Wholesale Corporation in the second quarter worth $107,000. Mercer Capital Advisers Inc. increased its position in shares of Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Ledyard National Bank increased its position in shares of Costco Wholesale Corporation by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after acquiring an additional 130 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors.
Costco Wholesale Corporation (COST) opened at $171.46 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. Costco Wholesale Corporation has a 52-week low of $149.50 and a 52-week high of $183.18. The stock has a market cap of $74,882.54, a PE ratio of 29.44, a PEG ratio of 2.74 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. research analysts anticipate that Costco Wholesale Corporation will post 6.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $0.50 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. Costco Wholesale Corporation’s payout ratio is currently 32.89%.
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company set a $170.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. Deutsche Bank AG set a $155.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Friday, October 6th. Citigroup Inc. increased their price objective on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the stock a “hold” rating in a research report on Friday, October 6th. Oppenheimer Holdings, Inc. set a $185.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Morgan Stanley lowered shares of Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Twelve research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $178.34.
In related news, Director Richard M. Libenson sold 2,350 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the sale, the director now directly owns 4,109 shares in the company, valued at approximately $665,658. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale Corporation stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the completion of the sale, the chief financial officer now owns 35,225 shares in the company, valued at $6,021,713.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,731 shares of company stock worth $3,727,239. Insiders own 0.74% of the company’s stock.
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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