Moody National Bank Trust Division continued to hold its position in shares of Costco Wholesale Co. (NASDAQ:COST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,055 shares of the retailer’s stock at the end of the first quarter. Moody National Bank Trust Division’s holdings in Costco Wholesale were worth $680,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Barometer Capital Management Inc. purchased a new position in shares of Costco Wholesale during the first quarter worth about $168,000. New Capital Management LP bought a new position in Costco Wholesale during the fourth quarter valued at about $201,000. Aveo Capital Partners LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $207,000. Mascoma Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $209,000. Finally, STA Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $214,000. Institutional investors own 73.12% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 2nd. The retailer reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The business had revenue of $29.77 billion during the quarter, compared to analyst estimates of $29.75 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s revenue was up 5.7% compared to the same quarter last year.
The firm also recently declared a special dividend, which will be paid on Friday, May 26th. Investors of record on Wednesday, May 10th will be paid a $7.00 dividend. This is a boost from Costco Wholesale’s previous special dividend of $0.45. The ex-dividend date is Wednesday, May 10th. This represents a dividend yield of 1.13%. Costco Wholesale’s payout ratio is 32.79%.
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Several equities research analysts recently issued reports on the stock. Cowen and Company reissued an “outperform” rating on shares of Costco Wholesale in a report on Thursday, March 30th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Costco Wholesale in a report on Saturday, March 4th. Jefferies Group LLC set a $156.00 price objective on shares of Costco Wholesale and gave the company a “hold” rating in a report on Monday, March 6th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a report on Friday, March 3rd. Finally, Sanford C. Bernstein started coverage on shares of Costco Wholesale in a report on Monday, February 6th. They set a “market perform” rating and a $170.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $179.70.
In related news, Director James D. Sinegal sold 100,000 shares of the business’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $166.35, for a total value of $16,635,000.00. Following the completion of the sale, the director now directly owns 717,296 shares of the company’s stock, valued at $119,322,189.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James D. Sinegal sold 17,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $164.52, for a total value of $2,796,840.00. Following the completion of the sale, the director now directly owns 792,594 shares of the company’s stock, valued at $130,397,564.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,000 shares of company stock worth $20,099,640. Insiders own 0.74% of the company’s stock.
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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