Capstone Asset Management Co. Reduces Position in Costco Wholesale Corporation (COST)

Capstone Asset Management Co. lowered its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 9.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,249 shares of the retailer’s stock after selling 5,216 shares during the period. Capstone Asset Management Co.’s holdings in Costco Wholesale Corporation were worth $8,036,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mercer Capital Advisers Inc. grew its holdings 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 purchasing an additional 201 shares in the last quarter. Mosaic Family Wealth LLC grew its holdings in shares of Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after purchasing an additional 100 shares in the last quarter. CKW Financial Group grew its holdings in shares of Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after purchasing an additional 200 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of 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 valued at $154,000 after purchasing an additional 540 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Costco Wholesale Corporation by 67.3% in the first quarter. Proficio Capital Partners LLC now owns 927 shares of the retailer’s stock valued at $160,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 72.50% of the company’s stock.

In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $157.59, for a total value of $157,590.00. Following the sale, the director now directly owns 6,974 shares in the company, valued at $1,099,032.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,000 shares of company stock worth $477,120 over the last quarter. 0.74% of the stock is currently owned by company insiders.

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COST has been the subject of several analyst reports. Northcoast Research upgraded shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Tuesday, June 20th. Deutsche Bank AG reiterated a “hold” rating and set a $172.00 price target on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Stifel Nicolaus reiterated a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, July 7th. BMO Capital Markets cut shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $185.00 to $160.00 in a report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and lowered their price target for the stock from $197.00 to $176.00 in a report on Friday, June 16th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale Corporation currently has an average rating of “Buy” and an average price target of $179.23.

Shares of Costco Wholesale Corporation (NASDAQ COST) traded down 0.04% during trading on Friday, reaching $162.30. 3,757,799 shares of the company’s stock were exchanged. The company’s 50-day moving average is $157.60 and its 200 day moving average is $165.44. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The stock has a market capitalization of $71.18 billion, a PE ratio of 28.18 and a beta of 0.93. Costco Wholesale Corporation also saw some unusual options trading on Thursday. Traders purchased 6,031 put options on the company. This represents an increase of 231% compared to the average volume of 1,822 put options.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 34.66%.

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.

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

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