Arthur M. Cohen & Associates LLC increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,675 shares of the retailer’s stock after buying an additional 613 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Costco Wholesale Corporation were worth $1,622,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. 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. Mosaic Family Wealth LLC boosted its position in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the period. CKW Financial Group boosted its position in Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $135,000 after buying an additional 200 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Costco Wholesale Corporation by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock worth $154,000 after buying an additional 540 shares during the period. Finally, Barometer Capital Management Inc. bought a new position in Costco Wholesale Corporation during the first quarter worth approximately $168,000. 73.91% of the stock is owned by institutional investors.
Shares of Costco Wholesale Corporation (COST) opened at 157.08 on Friday. The stock has a market capitalization of $68.89 billion, a price-to-earnings ratio of 27.27 and a beta of 0.93. The company has a 50-day moving average price of $155.32 and a 200-day moving average price of $167.38. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. Costco Wholesale Corporation also was the target of some unusual options trading on Thursday. Investors purchased 6,031 put options on the company. This represents an increase of approximately 231% compared to the typical volume of 1,822 put options.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s payout ratio is currently 34.66%.
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COST has been the subject of a number of research analyst reports. Northcoast Research raised shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Tuesday, June 20th. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, July 7th. BMO Capital Markets downgraded Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $185.00 to $160.00 in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) downgraded Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and dropped their price target for the company from $197.00 to $176.00 in a research note on Friday, June 16th. Finally, BidaskClub downgraded Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale Corporation currently has a consensus rating of “Buy” and an average price target of $179.11.
In other news, insider John D. Mckay sold 3,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $181.60, for a total value of $544,800.00. Following the completion of the transaction, the insider now owns 62,607 shares in the company, valued at $11,369,431.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $2,677,430 in the last 90 days. Company 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.
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