Costco Wholesale Corporation (COST) Position Reduced by Tiemann Investment Advisors LLC
Tiemann Investment Advisors LLC reduced its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,571 shares of the retailer’s stock after selling 124 shares during the period. Costco Wholesale Corporation comprises about 1.0% of Tiemann Investment Advisors LLC’s holdings, making the stock its 25th largest position. Tiemann Investment Advisors LLC’s holdings in Costco Wholesale Corporation were worth $1,102,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. boosted its position in Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock worth $111,000 after buying an additional 201 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in Costco Wholesale Corporation by 16.7% in the first 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 last quarter. CKW Financial Group boosted its position in Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $135,000 after buying an additional 200 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Costco Wholesale Corporation by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock worth $154,000 after buying an additional 540 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Costco Wholesale Corporation during the first quarter worth $168,000. 74.14% of the stock is owned by institutional investors.
Costco Wholesale Corporation (NASDAQ COST) opened at 156.95 on Tuesday. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The firm has a market capitalization of $68.84 billion, a price-to-earnings ratio of 27.25 and a beta of 0.93. The firm has a 50-day moving average of $158.29 and a 200 day moving average of $168.02.
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. On average, equities analysts predict that Costco Wholesale Corporation will post $5.77 EPS 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 of this dividend 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 1.27%. Costco Wholesale Corporation’s payout ratio is 34.66%.
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A number of research firms have weighed in on COST. UBS AG raised shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. BidaskClub raised shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus set a $173.00 price objective on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Vetr raised shares of Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $168.75 price objective for the company in a report on Monday, July 24th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale Corporation in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $179.11.
In other news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the sale, the director now directly owns 4,974 shares in the company, valued at $792,109.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the sale, the insider now owns 28,786 shares of the company’s stock, valued at $5,219,477.52. 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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