BB&T Investment Services Inc. Invests $476,000 in Costco Wholesale Co. (COST)
BB&T Investment Services Inc. purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,921 shares of the retailer’s stock, valued at approximately $476,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. Martin & Co. Inc. TN increased its position in shares of Costco Wholesale by 4.2% in the second quarter. Martin & Co. Inc. TN now owns 9,649 shares of the retailer’s stock valued at $1,543,000 after acquiring an additional 385 shares during the last quarter. Cypress Capital Group acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $400,000. Scotia Capital Inc. increased its position in shares of Costco Wholesale by 40.1% in the second quarter. Scotia Capital Inc. now owns 87,837 shares of the retailer’s stock valued at $14,046,000 after acquiring an additional 25,145 shares during the last quarter. Wafra Investment Advisory Group Inc. NY increased its position in shares of Costco Wholesale by 5.9% in the second quarter. Wafra Investment Advisory Group Inc. NY now owns 54,648 shares of the retailer’s stock valued at $8,740,000 after acquiring an additional 3,022 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of Costco Wholesale by 14.6% in the second quarter. M&R Capital Management Inc. now owns 6,910 shares of the retailer’s stock valued at $1,082,000 after acquiring an additional 880 shares during the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costco Wholesale Co. (COST) opened at $189.56 on Tuesday. Costco Wholesale Co. has a 1-year low of $150.00 and a 1-year high of $189.88. The stock has a market capitalization of $82,840.00, a P/E ratio of 31.81, a PEG ratio of 2.95 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The company had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. equities research analysts expect that Costco Wholesale Co. will post 6.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is presently 32.89%.
A number of analysts recently issued reports on the company. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $200.00 target price on shares of Costco Wholesale in a research report on Monday. Moffett Nathanson assumed coverage on Costco Wholesale in a research report on Monday. They issued a “buy” rating on the stock. < Oppenheimer reaffirmed a "buy" rating on shares of Costco Wholesale in a research report on Thursday, November 30th. Vetr downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating and set a $183.04 price target on the stock. in a research report on Wednesday, September 27th. Finally, Zacks Investment Research downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $179.50.
In related news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now directly owns 6,974 shares in the company, valued at $1,150,152.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard M. Libenson sold 2,350 shares of the business’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 value 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. In the last 90 days, insiders have sold 32,842 shares of company stock valued at $5,520,848. Corporate insiders own 0.74% of the company’s stock.
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Costco Wholesale 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.
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