Wealthsource Partners LLC Takes Position in Costco Wholesale Co. (COST)

Wealthsource Partners LLC bought a new position in Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,385 shares of the retailer’s stock, valued at approximately $222,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Covington Capital Management grew its position in Costco Wholesale by 4.4% during the second quarter. Covington Capital Management now owns 93,426 shares of the retailer’s stock valued at $14,942,000 after purchasing an additional 3,929 shares in the last quarter. Colony Group LLC grew its position in Costco Wholesale by 94.4% during the second quarter. Colony Group LLC now owns 6,358 shares of the retailer’s stock valued at $1,017,000 after purchasing an additional 3,088 shares in the last quarter. GRATRY & Co LLC purchased a new position in Costco Wholesale during the second quarter valued at approximately $271,000. Keel Point LLC grew its position in Costco Wholesale by 1.6% during the second quarter. Keel Point LLC now owns 1,722 shares of the retailer’s stock valued at $275,000 after purchasing an additional 27 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in Costco Wholesale by 199.4% during the second quarter. Verition Fund Management LLC now owns 15,042 shares of the retailer’s stock valued at $2,406,000 after purchasing an additional 10,018 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.

COST has been the topic of a number of research analyst reports. TheStreet raised shares of Costco Wholesale from a “c” rating to a “b” rating in a research report on Monday, October 9th. Robert W. Baird reissued a “buy” rating and issued a $200.00 target price on shares of Costco Wholesale in a research report on Friday, August 25th. Oppenheimer reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, August 24th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Tuesday, September 12th. Finally, UBS reissued a “buy” rating and issued a $190.00 target price on shares of Costco Wholesale in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $179.50.

In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the transaction, the director now directly owns 6,974 shares in the company, valued at approximately $1,150,152.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John D. Mckay sold 8,111 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the transaction, the insider now owns 66,751 shares of the company’s stock, valued at $11,533,237.78. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock valued at $5,520,848 over the last 90 days. 0.74% of the stock is owned by corporate insiders.

Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $187.22 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $191.22. The firm has a market cap of $82,835.75, a price-to-earnings ratio of 32.57, a PEG ratio of 3.02 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the previous year, the company earned $1.77 earnings per share. Costco Wholesale’s revenue for the quarter was up 15.7% on a year-over-year basis. research analysts anticipate that Costco Wholesale Co. will post 6.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s payout ratio is 32.89%.

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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.

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

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