Blue Granite Capital LLC maintained its position in shares of Costco Wholesale Corporation (NASDAQ:COST) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,760 shares of the retailer’s stock at the end of the first quarter. Costco Wholesale Corporation makes up approximately 1.7% of Blue Granite Capital LLC’s holdings, making the stock its 26th largest position. Blue Granite Capital LLC’s holdings in Costco Wholesale Corporation were worth $2,643,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP boosted its stake in Costco Wholesale Corporation by 1,266.7% in the fourth quarter. Davidson Kempner Capital Management LP now owns 175,000 shares of the retailer’s stock worth $28,018,000 after buying an additional 190,000 shares in the last quarter. Moloney Securities Asset Management LLC bought a new stake in shares of Costco Wholesale Corporation during the fourth quarter worth $329,000. Fred Alger Management Inc. boosted its stake in shares of Costco Wholesale Corporation by 13.9% in the fourth quarter. Fred Alger Management Inc. now owns 597,923 shares of the retailer’s stock worth $95,734,000 after buying an additional 73,095 shares during the period. Roundview Capital LLC boosted its stake in shares of Costco Wholesale Corporation by 130.9% in the fourth quarter. Roundview Capital LLC now owns 5,055 shares of the retailer’s stock worth $809,000 after buying an additional 2,866 shares during the period. Finally, Scotia Capital Inc. boosted its stake in shares of Costco Wholesale Corporation by 9.9% in the fourth quarter. Scotia Capital Inc. now owns 81,756 shares of the retailer’s stock worth $13,098,000 after buying an additional 7,361 shares during the period. Institutional investors and hedge funds own 74.14% of the company’s stock.
Costco Wholesale Corporation (NASDAQ COST) traded up 0.51% during trading on Tuesday, reaching $157.75. The company’s stock had a trading volume of 2,568,677 shares. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The company has a market cap of $69.19 billion, a price-to-earnings ratio of 27.39 and a beta of 0.93. The stock’s 50 day moving average is $156.39 and its 200 day moving average is $167.81.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $28.86 billion for the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. On average, equities analysts expect that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is currently 34.66%.
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A number of analysts have weighed in on the company. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. BidaskClub raised Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Vetr raised Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $168.75 price objective on the stock in a research note on Monday, July 24th. Finally, Guggenheim reissued a “neutral” rating on shares of Costco Wholesale Corporation in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned 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 related news, insider John D. Mckay sold 3,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $181.60, for a total value of $544,800.00. Following the transaction, the insider now owns 62,607 shares of the company’s stock, valued at $11,369,431.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total value of $906,600.00. Following the completion of the transaction, the insider now directly owns 28,786 shares in the company, valued at approximately $5,219,477.52. The disclosure for this sale can be found here. In the last three months, insiders sold 15,000 shares of company stock worth $2,677,430. 0.74% of the stock is owned by insiders.
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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