W.G. Shaheen & Associates DBA Whitney & Co Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,471 shares of the retailer’s stock after buying an additional 55 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Costco Wholesale were worth $5,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Great Valley Advisor Group Inc. purchased a new stake in shares of Costco Wholesale in the second quarter worth $470,000. Regent Investment Management LLC raised its position in shares of Costco Wholesale by 43.5% in the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock worth $360,000 after buying an additional 450 shares in the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Costco Wholesale in the second quarter worth $4,462,000. Raymond James & Associates raised its position in shares of Costco Wholesale by 8.5% in the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock worth $113,252,000 after buying an additional 36,675 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Costco Wholesale by 17.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock worth $44,218,000 after buying an additional 27,026 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

In other news, CFO Richard A. Galanti sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.39, for a total transaction of $799,170.00. Following the transaction, the chief financial officer now directly owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 2,790 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $254.62, for a total value of $710,389.80. Following the transaction, the director now directly owns 45,405 shares in the company, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock worth $7,380,374 over the last ninety days. Insiders own 0.21% of the company’s stock.

A number of equities research analysts recently issued reports on the company. BMO Capital Markets set a $275.00 price objective on Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI reissued a “buy” rating on shares of Costco Wholesale in a research note on Sunday, August 11th. Wells Fargo & Co increased their target price on Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. They noted that the move was a valuation call. Barclays set a $275.00 target price on Costco Wholesale and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Goldman Sachs Group started coverage on Costco Wholesale in a research note on Thursday, July 11th. They issued a “buy” rating and a $290.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $266.04.

Shares of NASDAQ:COST traded down $5.54 on Friday, reaching $274.38. 68,945 shares of the company traded hands, compared to its average volume of 1,812,618. The business’s 50-day simple moving average is $275.67 and its 200 day simple moving average is $248.93. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The stock has a market capitalization of $122.11 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 3.83 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm had revenue of $34.74 billion for the quarter, compared to analysts’ expectations of $34.72 billion. During the same period last year, the firm earned $1.70 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.

Costco Wholesale declared that its Board of Directors has initiated a share buyback plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.95%. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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