Nuveen Asset Management LLC Has $3.87 Million Position in Costco Wholesale Corporation (COST)

Nuveen Asset Management LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 13.0% during the first quarter, Holdings Channel reports. The fund owned 23,063 shares of the retailer’s stock after selling 3,447 shares during the period. Nuveen Asset Management LLC’s holdings in Costco Wholesale Corporation were worth $3,867,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Perigon Wealth Management LLC increased its stake in shares of Costco Wholesale Corporation by 3.1% in the first quarter. Perigon Wealth Management LLC now owns 26,620 shares of the retailer’s stock valued at $4,464,000 after buying an additional 798 shares during the last quarter. Columbia Partners L L C Investment Management increased its stake in shares of Costco Wholesale Corporation by 5.4% in the first quarter. Columbia Partners L L C Investment Management now owns 56,141 shares of the retailer’s stock valued at $9,414,000 after buying an additional 2,890 shares during the last quarter. Sowell Financial Services LLC increased its stake in shares of Costco Wholesale Corporation by 1.2% in the first quarter. Sowell Financial Services LLC now owns 8,371 shares of the retailer’s stock valued at $1,448,000 after buying an additional 102 shares during the last quarter. UBS Oconnor LLC purchased a new stake in shares of Costco Wholesale Corporation during the first quarter valued at $8,384,000. Finally, Piedmont Investment Advisors LLC increased its stake in shares of Costco Wholesale Corporation by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 92,508 shares of the retailer’s stock valued at $15,513,000 after buying an additional 803 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Corporation (COST) traded down 0.6450% during midday trading on Friday, reaching $157.5472. 875,909 shares of the company’s stock traded hands. The stock has a market capitalization of $69.10 billion, a price-to-earnings ratio of 27.3519 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 company’s 50-day moving average price is $155.36 and its 200 day moving average price is $167.42. Costco Wholesale Corporation also was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 6,031 put options on the stock. This is an increase of approximately 231% compared to the typical daily volume of 1,822 put options.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 34.66%.

TRADEMARK VIOLATION WARNING: “Nuveen Asset Management LLC Has $3.87 Million Position in Costco Wholesale Corporation (COST)” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.com-unik.info/2017/08/18/nuveen-asset-management-llc-has-3-87-million-position-in-costco-wholesale-corporation-cost.html.

Several analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Stifel Nicolaus set a $173.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub raised shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Deutsche Bank AG set a $172.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Robert W. Baird set a $200.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $179.11.

In other Costco Wholesale Corporation news, insider Daniel M. Hines sold 5,000 shares of the 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 transaction, the insider now owns 28,786 shares in the company, valued at $5,219,477.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the 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 transaction, the director now owns 5,974 shares in the company, valued at approximately $957,512.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,000 shares of company stock worth $2,677,430. Insiders own 0.74% of the company’s stock.

Costco Wholesale Corporation Company 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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST).

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

What are top analysts saying about Costco Wholesale Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Costco Wholesale Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit