Conning Inc. Sells 221 Shares of Costco Wholesale Corporation (COST)

Conning Inc. trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,262 shares of the retailer’s stock after selling 221 shares during the period. Conning Inc.’s holdings in Costco Wholesale Corporation were worth $2,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COST. Ameriprise Financial Inc. boosted its position in Costco Wholesale Corporation by 62.0% during the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after acquiring an additional 1,753,741 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Costco Wholesale Corporation by 15,937.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock worth $9,058,000 after acquiring an additional 1,439,613 shares during the last quarter. Magellan Asset Management Ltd boosted its position in Costco Wholesale Corporation by 13.9% during the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock worth $732,000,000 after acquiring an additional 532,896 shares during the last quarter. Janus Capital Management LLC boosted its position in Costco Wholesale Corporation by 8.6% during the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after acquiring an additional 361,581 shares during the last quarter. Finally, Swiss National Bank boosted its position in Costco Wholesale Corporation by 26.2% during the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after acquiring an additional 331,400 shares during the last quarter. 72.34% of the stock is owned by institutional investors and hedge funds.

In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 3,000 shares of company stock valued at $481,760. 0.74% of the stock is owned by insiders.

COST has been the topic of a number of analyst reports. TheStreet upgraded shares of Costco Wholesale Corporation from a “c” rating to a “b” rating in a research report on Monday. Robert W. Baird restated a “buy” rating and set a $200.00 target price on shares of Costco Wholesale Corporation in a research report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and set a $173.00 target price (down previously from $191.00) on shares of Costco Wholesale Corporation in a research report on Friday, June 23rd. BidaskClub lowered shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Northcoast Research upgraded shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Tuesday, June 20th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $178.50.

Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 157.87 on Thursday. The company’s 50-day moving average is $159.86 and its 200 day moving average is $164.59. The stock has a market cap of $69.02 billion, a P/E ratio of 25.97 and a beta of 0.94. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18.

Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. The business had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.33%. Costco Wholesale Corporation’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. Equities research analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current year.

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Costco Wholesale Corporation 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.

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

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