Cornerstone Financial Partners LLC Acquires 166 Shares of Costco Wholesale Corporation (COST)

Cornerstone Financial Partners LLC raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,487 shares of the retailer’s stock after buying an additional 166 shares during the period. Cornerstone Financial Partners LLC’s holdings in Costco Wholesale Corporation were worth $236,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Court Place Advisors LLC boosted its stake in shares of Costco Wholesale Corporation by 3.6% in the second quarter. Court Place Advisors LLC now owns 2,875 shares of the retailer’s stock worth $460,000 after buying an additional 100 shares during the period. Brightworth boosted its stake in shares of Costco Wholesale Corporation by 0.3% in the second quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after buying an additional 4 shares during the period. Schmidt P J Investment Management Inc. boosted its stake in shares of Costco Wholesale Corporation by 14.9% in the second quarter. Schmidt P J Investment Management Inc. now owns 2,500 shares of the retailer’s stock worth $400,000 after buying an additional 325 shares during the period. Washington Trust Bank boosted its stake in shares of Costco Wholesale Corporation by 27.1% in the second quarter. Washington Trust Bank now owns 25,884 shares of the retailer’s stock worth $4,140,000 after buying an additional 5,524 shares during the period. Finally, Asset Advisors Corp boosted its stake in shares of Costco Wholesale Corporation by 1.8% in the second quarter. Asset Advisors Corp now owns 73,115 shares of the retailer’s stock worth $11,693,000 after buying an additional 1,280 shares during the period. Institutional investors own 74.14% of the company’s stock.

Costco Wholesale Corporation (NASDAQ COST) traded down 0.13% during midday trading on Thursday, reaching $156.65. 1,301,844 shares of the company traded hands. The firm has a 50-day moving average price of $155.74 and a 200-day moving average price of $167.69. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 27.20 and a beta of 0.93.

Costco Wholesale Corporation (NASDAQ:COST) last issued its earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. During the same quarter last year, the company earned $1.24 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 annualized dividend and a yield of 1.28%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.tickerreport.com/banking-finance/2798885/cornerstone-financial-partners-llc-acquires-166-shares-of-costco-wholesale-corporation-cost.html.

A number of brokerages recently issued reports on COST. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research report on Thursday, August 3rd. Stifel Nicolaus set a $173.00 target price on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Deutsche Bank AG set a $172.00 target price on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Robert W. Baird set a $200.00 target price on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $179.11.

In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total value of $159,250.00. Following the completion of the transaction, the director now owns 4,974 shares in the company, valued at approximately $792,109.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James P. Murphy sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the transaction, the vice president now owns 48,845 shares of the company’s stock, valued at approximately $8,855,598.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST).

Institutional Ownership by Quarter for Costco Wholesale Corporation (NASDAQ:COST)

Receive News & Ratings for Costco Wholesale Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.