Raymond James Trust N.A. Acquires 777 Shares of Costco Wholesale Corporation (COST)

Raymond James Trust N.A. grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,980 shares of the retailer’s stock after buying an additional 777 shares during the quarter. Raymond James Trust N.A.’s holdings in Costco Wholesale Corporation were worth $2,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN raised its position in shares of Costco Wholesale Corporation 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 buying an additional 65 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Costco Wholesale Corporation during the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new stake in shares of Costco Wholesale Corporation during the 2nd quarter valued at about $107,000. Mercer Capital Advisers Inc. raised its position in shares of Costco Wholesale Corporation 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 buying an additional 23 shares in the last quarter. Finally, Ledyard National Bank raised its position in shares of Costco Wholesale Corporation by 19.1% during the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.

Shares of Costco Wholesale Corporation (COST) opened at $171.36 on Friday. The firm has a market cap of $74,882.60, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.93. Costco Wholesale Corporation has a one year low of $145.38 and a one year high of $183.18. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.

Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. Costco Wholesale Corporation’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $1.77 earnings per share. equities research analysts anticipate that Costco Wholesale Corporation will post 6.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.17%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 32.89%.

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Several brokerages have recently issued reports on COST. Wells Fargo & Company set a $170.00 target price on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a research report on Thursday, October 5th. Citigroup Inc. upped their target price on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the company a “hold” rating in a research report on Friday, October 6th. UBS AG restated a “buy” rating and set a $190.00 target price on shares of Costco Wholesale Corporation in a research report on Friday, October 6th. Oppenheimer Holdings, Inc. set a $185.00 target price on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Morgan Stanley cut shares of Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $190.00 to $165.00 in a research report on Friday, October 6th. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Costco Wholesale Corporation presently has an average rating of “Buy” and a consensus target price of $178.34.

In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the sale, the director now directly owns 6,974 shares in the company, valued at $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard M. Libenson sold 2,350 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares of the company’s stock, valued at $665,658. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,731 shares of company stock valued at $3,214,389. 0.74% of the stock is owned by insiders.

Costco Wholesale Corporation Profile

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 Corporation (NASDAQ:COST)

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