FMR LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,099,104 shares of the retailer’s stock after buying an additional 177,200 shares during the quarter. FMR LLC owned about 2.76% of Costco Wholesale Corporation worth $2,028,898,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of COST. Private Wealth Partners LLC grew its holdings in Costco Wholesale Corporation by 7.0% during the first quarter. Private Wealth Partners LLC now owns 20,464 shares of the retailer’s stock valued at $3,432,000 after purchasing an additional 1,334 shares during the period. Palisade Capital Management LLC NJ grew its holdings in Costco Wholesale Corporation by 150.4% during the first quarter. Palisade Capital Management LLC NJ now owns 4,081 shares of the retailer’s stock valued at $684,000 after purchasing an additional 2,451 shares during the period. SFE Investment Counsel grew its holdings in Costco Wholesale Corporation by 0.7% during the first quarter. SFE Investment Counsel now owns 33,264 shares of the retailer’s stock valued at $5,578,000 after purchasing an additional 245 shares during the period. DnB Asset Management AS grew its holdings in Costco Wholesale Corporation by 16.9% during the first quarter. DnB Asset Management AS now owns 56,053 shares of the retailer’s stock valued at $9,400,000 after purchasing an additional 8,100 shares during the period. Finally, Benin Management CORP grew its holdings in Costco Wholesale Corporation by 0.8% during the first quarter. Benin Management CORP now owns 10,200 shares of the retailer’s stock valued at $1,710,000 after purchasing an additional 80 shares during the period. 72.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $792,109.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 3,000 shares of company stock worth $477,120 over the last three months. Insiders own 0.74% of the company’s stock.
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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 were exchanged. The company’s 50-day moving average is $157.60 and its 200 day moving average is $165.44. The firm has a market capitalization of $71.18 billion, a PE ratio of 28.18 and a beta of 0.93. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. Costco Wholesale Corporation also was the target of some unusual options trading activity on Thursday. Stock traders purchased 6,031 put options on the company. This is an increase of 231% compared to the average volume of 1,822 put options.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. 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 payout ratio is 34.66%.
COST has been the topic of several recent research reports. Bank of America Corporation restated a “buy” rating and set a $192.00 target price (up previously from $180.00) on shares of Costco Wholesale Corporation in a research report on Sunday, May 28th. Deutsche Bank AG set a $172.00 target price on Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a research report on Friday, May 26th. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. Finally, BMO Capital Markets downgraded Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $185.00 to $160.00 in a research report on Monday, July 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale Corporation presently has a consensus rating of “Buy” and a consensus price target of $179.23.
About Costco Wholesale Corporation
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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