Costco Wholesale Co. (COST) Position Lowered by Level Four Advisory Services LLC
Level Four Advisory Services LLC decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 29.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,425 shares of the retailer’s stock after selling 2,314 shares during the period. Level Four Advisory Services LLC’s holdings in Costco Wholesale were worth $906,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delta Asset Management LLC TN increased its holdings in Costco Wholesale by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in Costco Wholesale during the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at about $107,000. Mercer Capital Advisers Inc. increased its holdings in Costco Wholesale by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Ledyard National Bank increased its holdings in Costco Wholesale by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $188.07 on Friday. 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 Co. has a twelve month low of $150.00 and a twelve month high of $191.22. The company has a market cap of $81,367.46, a PE ratio of 31.99, a PEG ratio of 3.02 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The business had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same period last year, the company earned $1.77 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. research analysts predict that Costco Wholesale Co. will post 6.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $0.50 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio is presently 32.89%.
In related news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $183.26, for a total value of $549,780.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dennis R. Zook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the completion of the sale, the vice president now directly owns 626 shares in the company, valued at $101,361.92. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock worth $5,520,848 over the last three months. Corporate insiders own 0.74% of the company’s stock.
COST has been the subject of several recent research reports. Deutsche Bank restated a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a report on Tuesday, September 5th. Citigroup raised their target price on shares of Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a report on Friday, October 6th. Oppenheimer restated a “buy” rating and set a $185.00 target price on shares of Costco Wholesale in a report on Thursday, August 31st. Morgan Stanley downgraded shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $179.50.
About Costco Wholesale
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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