Highland Capital Management LLC Raises Position in Costco Wholesale Corporation (COST)

Highland Capital Management LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 12.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 47,544 shares of the retailer’s stock after buying an additional 5,297 shares during the period. Highland Capital Management LLC’s holdings in Costco Wholesale Corporation were worth $7,604,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in COST. Mercer Capital Advisers Inc. boosted its position in shares of Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after buying an additional 201 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale Corporation during the second quarter valued at $107,000. Mosaic Family Wealth LLC boosted its position in shares of Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares in the last quarter. CKW Financial Group boosted its position in shares of Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. Finally, Ledyard National Bank boosted its position in shares of Costco Wholesale Corporation by 19.1% in the second 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. 74.14% of the stock is owned by hedge funds and other institutional investors.

Shares of Costco Wholesale Corporation (COST) traded up 0.01% during mid-day trading on Friday, hitting $156.65. The company had a trading volume of 1,886,996 shares. The firm has a 50-day moving average price of $155.46 and a 200-day moving average price of $167.57. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The firm has a market capitalization of $68.71 billion, a PE ratio of 27.20 and a beta of 0.93.

Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company had revenue of $28.86 billion during the quarter, compared to analyst estimates of $28.57 billion. During the same period in the previous year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.50 dividend. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, August 16th. Costco Wholesale Corporation’s payout ratio is presently 34.66%.

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Several brokerages have weighed in on COST. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Guggenheim reissued a “neutral” rating on shares of Costco Wholesale Corporation in a report on Friday, June 2nd. BidaskClub raised Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Vetr raised Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $168.75 price target for the company in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $179.11.

In related news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the transaction, the director now directly owns 5,974 shares in the company, valued at approximately $957,512.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James P. Murphy sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $181.30, for a total transaction of $906,500.00. Following the completion of the transaction, the vice president now owns 48,845 shares of the company’s stock, valued at $8,855,598.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is owned by company insiders.

About Costco Wholesale Corporation

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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