Ameriprise Financial Inc. lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,421,369 shares of the retailer’s stock after selling 161,912 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.01% of Costco Wholesale Corporation worth $707,005,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Delta Asset Management LLC TN grew its position in shares of 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 in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Costco Wholesale Corporation during the 2nd quarter worth $101,000. Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale Corporation during the 2nd quarter worth $107,000. Mercer Capital Advisers Inc. grew its position in shares of 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 in the last quarter. Finally, Ledyard National Bank grew its position in shares of 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 in the last quarter. 72.76% of the stock is currently owned by institutional investors.
In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $157.59, for a total transaction of $157,590.00. Following the sale, the director now directly owns 6,974 shares of the company’s stock, valued at $1,099,032.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul G. Moulton sold 4,381 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $168.16, for a total value of $736,708.96. Following the completion of the sale, the vice president now directly owns 52,858 shares in the company, valued at $8,888,601.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,731 shares of company stock worth $3,214,389. 0.74% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on COST shares. Deutsche Bank AG reissued a “hold” rating and set a $172.00 price target on shares of Costco Wholesale Corporation in a research report on Tuesday, September 5th. Citigroup Inc. increased their price target on 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. reissued a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corporation in a research report on Thursday, August 31st. Morgan Stanley downgraded Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded Costco Wholesale Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $178.34.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $171.36 on Monday. The company has a market capitalization of $74,882.54, a PE ratio of 29.44, a P/E/G ratio of 2.74 and a beta of 0.93. Costco Wholesale Corporation has a 1-year low of $145.38 and a 1-year high of $183.18. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. Costco Wholesale Corporation’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. analysts predict that Costco Wholesale Corporation will post 6.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 32.89%.
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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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