United Services Automobile Association cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 267,918 shares of the retailer’s stock after selling 12,009 shares during the quarter. United Services Automobile Association owned 0.06% of Costco Wholesale Corporation worth $44,927,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of Costco Wholesale Corporation by 62.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after purchasing an additional 1,753,741 shares in the last quarter. Swiss National Bank raised its stake in shares of Costco Wholesale Corporation by 26.2% during the 1st quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after purchasing an additional 331,400 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Costco Wholesale Corporation by 15.2% during the 1st quarter. American Century Companies Inc. now owns 2,197,302 shares of the retailer’s stock worth $368,466,000 after purchasing an additional 289,788 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Costco Wholesale Corporation during the 1st quarter worth about $46,978,000. Finally, Columbus Circle Investors purchased a new stake in shares of Costco Wholesale Corporation during the 1st quarter worth about $39,312,000. Hedge funds and other institutional investors own 72.50% of the company’s stock.
A number of research analysts recently weighed in on the company. Bank of America Corporation reissued a “buy” rating and issued a $192.00 price objective (up from $180.00) on shares of Costco Wholesale Corporation in a research note on Sunday, May 28th. Deutsche Bank AG set a $172.00 price objective on Costco Wholesale Corporation and gave the company a “hold” rating in a research note on Monday, July 31st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Finally, BMO Capital Markets lowered Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $185.00 to $160.00 in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $179.35.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total value of $159,250.00. Following the sale, the director now directly owns 4,974 shares in the company, valued at approximately $792,109.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 3,000 shares of company stock worth $477,120. 0.74% of the stock is currently owned by insiders.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 159.14 on Wednesday. The company has a market cap of $69.80 billion, a price-to-earnings ratio of 27.63 and a beta of 0.93. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The company’s 50-day moving average price is $155.67 and its 200 day moving average price is $166.17.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 34.66%.
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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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