Today, Smith Salley & Associates Sold shares of Costco Wholesale Corp. (COST)

Today, Smith Salley & Associates Sold shares of Costco Wholesale Corp. (COST)

Smith Salley & Associates lowered its position in shares of Costco Wholesale Corp. (NASDAQ:COST) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,744 shares of the retailer’s stock after selling 754 shares during the period. Smith Salley & Associates’ holdings in Costco Wholesale Corp. were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COST. Carnick & Kubik LLC increased its position in Costco Wholesale Corp. by 2.5% in the first quarter. Carnick & Kubik LLC now owns 11,553 shares of the retailer’s stock worth $1,820,000 after buying an additional 283 shares in the last quarter. Motley Fool Wealth Management LLC increased its position in Costco Wholesale Corp. by 3.8% in the first quarter. Motley Fool Wealth Management LLC now owns 24,183 shares of the retailer’s stock worth $3,811,000 after buying an additional 877 shares in the last quarter. Aviva PLC increased its position in Costco Wholesale Corp. by 1.6% in the first quarter. Aviva PLC now owns 245,094 shares of the retailer’s stock worth $38,622,000 after buying an additional 3,770 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in Costco Wholesale Corp. by 11.0% in the first quarter. Ropes Wealth Advisors LLC now owns 1,347 shares of the retailer’s stock worth $212,000 after buying an additional 134 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in Costco Wholesale Corp. during the first quarter worth approximately $1,251,000. Hedge funds and other institutional investors own 73.13% of the company’s stock.

Shares of Costco Wholesale Corp. (NASDAQ:COST) traded up 0.462% during midday trading on Tuesday, reaching $149.387. The company’s stock had a trading volume of 850,395 shares. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73. The stock’s 50-day moving average price is $152.67 and its 200-day moving average price is $156.01. The company has a market cap of $65.36 billion, a P/E ratio of 28.028 and a beta of 0.71.

Costco Wholesale Corp. (NASDAQ:COST) last posted its earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The firm had revenue of $35.73 billion for the quarter. During the same period in the previous year, the company posted $1.73 EPS. Costco Wholesale Corp.’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Friday, November 4th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, November 2nd. Costco Wholesale Corp.’s payout ratio is 33.71%.

A number of research analysts have recently commented on the company. Citigroup Inc. increased their target price on Costco Wholesale Corp. from $155.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Zacks Investment Research downgraded Costco Wholesale Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. restated a “buy” rating and issued a $179.00 price target on shares of Costco Wholesale Corp. in a research report on Friday, August 5th. Nomura restated a “buy” rating and issued a $185.00 price target on shares of Costco Wholesale Corp. in a research report on Thursday, August 25th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $171.00 price target on shares of Costco Wholesale Corp. in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $172.03.

In related news, Director John W. Meisenbach sold 5,737 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total transaction of $962,324.38. Following the transaction, the director now owns 4,652 shares of the company’s stock, valued at approximately $780,326.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jill S. Ruckelshaus sold 7,442 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $167.10, for a total value of $1,243,558.20. Following the transaction, the director now directly owns 18,566 shares in the company, valued at approximately $3,102,378.60. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

About Costco Wholesale Corp.

Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.

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