Mariner Wealth Advisors LLC decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 55.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,626 shares of the retailer’s stock after selling 7,039 shares during the quarter. Mariner Wealth Advisors LLC’s holdings in Costco Wholesale Corporation were worth $900,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Delta Asset Management LLC TN lifted its stake in shares of Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Costco Wholesale Corporation in the second quarter worth about $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Costco Wholesale Corporation in the second quarter worth about $107,000. Mercer Capital Advisers Inc. lifted its stake 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 lifted its stake 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. Institutional investors and hedge funds own 73.54% of the company’s stock.
COST has been the topic of several recent analyst reports. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research note on Monday, August 21st. Deutsche Bank AG reissued a “hold” rating and issued a $172.00 price objective on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Citigroup Inc. reissued a “buy” rating and issued a $190.00 price objective (up from $187.00) on shares of Costco Wholesale Corporation in a report on Monday, October 9th. Robert W. Baird set a $200.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $190.00 price objective (up from $184.00) on shares of Costco Wholesale Corporation in a 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $178.34.
In other news, insider John D. Mckay sold 8,111 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $172.78, for a total value of $1,401,418.58. Following the completion of the sale, the insider now owns 66,751 shares in the company, valued at $11,533,237.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Libenson sold 2,350 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares of the company’s stock, valued at approximately $665,658. The disclosure for this sale can be found here. Insiders sold 30,842 shares of company stock valued at $5,128,658 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.
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Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $172.28 on Tuesday. The stock has a market capitalization of $75,280.00, a price-to-earnings ratio of 29.38, a PEG ratio of 2.73 and a beta of 0.93. Costco Wholesale Corporation has a 1-year low of $150.00 and a 1-year high of $183.18. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
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 the Zacks’ consensus estimate of $2.02 by $0.06. The company had revenue of $42.30 billion during 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%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. sell-side analysts expect that Costco Wholesale Corporation will post 6.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued 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 1.16%. Costco Wholesale Corporation’s payout ratio is currently 32.89%.
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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