Investment House LLC decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 73,453 shares of the retailer’s stock after selling 185 shares during the period. Costco Wholesale Corporation accounts for 1.7% of Investment House LLC’s investment portfolio, making the stock its 12th largest position. Investment House LLC’s holdings in Costco Wholesale Corporation were worth $12,317,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its position in shares of Costco Wholesale Corporation by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock valued at $544,809,000 after buying an additional 129,106 shares during the period. Main Street Research LLC boosted its position in shares of Costco Wholesale Corporation by 4.9% in the first quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock valued at $10,850,000 after buying an additional 3,023 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock valued at $1,048,798,000 after buying an additional 79,201 shares during the period. Swiss National Bank boosted its position in shares of Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock valued at $267,802,000 after buying an additional 331,400 shares during the period. Finally, Weik Investment Services Inc. boosted its position in shares of Costco Wholesale Corporation by 0.5% in the first quarter. Weik Investment Services Inc. now owns 14,148 shares of the retailer’s stock valued at $2,372,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded up 0.74% on Friday, hitting $152.45. The stock had a trading volume of 5,703,470 shares. The stock has a market capitalization of $66.86 billion, a P/E ratio of 26.47 and a beta of 0.93. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The firm has a 50-day moving average price of $155.03 and a 200-day moving average price of $167.02. Costco Wholesale Corporation also saw unusually large options trading on Thursday. Traders bought 20,702 call options on the stock. This represents an increase of 169% compared to the average daily volume of 7,689 call options.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. 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. Costco Wholesale Corporation’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, August 16th. Costco Wholesale Corporation’s payout ratio is 34.66%.
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Several equities analysts have weighed in on COST shares. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective on the stock in a research note on Monday, August 21st. Robert W. Baird set a $200.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, May 4th. BidaskClub cut Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Cowen and Company set a $180.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Costco Wholesale Corporation currently has an average rating of “Buy” and a consensus price target of $179.56.
In other Costco Wholesale Corporation news, insider Daniel M. Hines sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the completion of the sale, the insider now directly owns 28,786 shares in the company, valued at approximately $5,219,477.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total value of $159,250.00. Following the sale, the director now owns 4,974 shares of the company’s stock, valued at $792,109.50. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.
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