Costco Wholesale Corporation (COST) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,235 shares of the retailer’s stock after purchasing an additional 169 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Costco Wholesale Corporation were worth $3,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Waldron LP acquired a new position in Costco Wholesale Corporation in the first quarter valued at approximately $223,000. Gamco Investors INC. ET AL lifted its holdings in Costco Wholesale Corporation by 3.5% in the first quarter. Gamco Investors INC. ET AL now owns 31,724 shares of the retailer’s stock valued at $5,320,000 after buying an additional 1,060 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in Costco Wholesale Corporation by 27.4% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the retailer’s stock valued at $1,539,000 after buying an additional 1,972 shares during the period. Main Street Research LLC lifted its holdings in 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. Finally, Haverford Trust Co. lifted its holdings in Costco Wholesale Corporation by 14.2% in the first quarter. Haverford Trust Co. now owns 2,621 shares of the retailer’s stock valued at $440,000 after buying an additional 325 shares during the period. 72.61% of the stock is currently owned by institutional investors and hedge funds.

In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the transaction, the director now owns 6,974 shares in the company, valued at $1,150,152.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the transaction, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,350 shares of company stock worth $2,315,710. Corporate insiders own 0.74% of the company’s stock.

Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.24%. Costco Wholesale Corporation’s payout ratio is 32.89%.

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein restated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Cowen and Company restated an “outperform” rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Stifel Nicolaus set a $173.00 price objective on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Finally, Vetr lowered shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective on the stock. in a report on Wednesday, September 27th. Eleven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $178.50.

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

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