MAI Capital Management Has $4.46 Million Stake in Costco Wholesale Corporation (COST)
MAI Capital Management reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,599 shares of the retailer’s stock after selling 2,382 shares during the period. MAI Capital Management’s holdings in Costco Wholesale Corporation were worth $4,460,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Lodestar Investment Counsel LLC IL increased its stake in Costco Wholesale Corporation by 1.3% in the first quarter. Lodestar Investment Counsel LLC IL now owns 5,796 shares of the retailer’s stock valued at $972,000 after buying an additional 75 shares during the period. Donald L. Hagan LLC raised its position in shares of Costco Wholesale Corporation by 8.7% in the first quarter. Donald L. Hagan LLC now owns 6,108 shares of the retailer’s stock valued at $1,024,000 after buying an additional 487 shares in the last quarter. Reilly Financial Advisors LLC raised its position in shares of Costco Wholesale Corporation by 2.4% in the first quarter. Reilly Financial Advisors LLC now owns 3,847 shares of the retailer’s stock valued at $645,000 after buying an additional 90 shares in the last quarter. Howland Capital Management LLC purchased a new position in shares of Costco Wholesale Corporation during the first quarter valued at approximately $216,000. Finally, First United Bank Trust raised its position in shares of Costco Wholesale Corporation by 4.8% in the first quarter. First United Bank Trust now owns 2,733 shares of the retailer’s stock valued at $458,000 after buying an additional 125 shares in the last quarter. Institutional investors own 73.91% of the company’s stock.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded up 0.05% during mid-day trading on Friday, hitting $151.40. The company had a trading volume of 2,702,051 shares. The firm has a 50-day moving average price of $155.16 and a 200 day moving average price of $167.12. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The firm has a market capitalization of $66.40 billion, a P/E ratio of 26.28 and a beta of 0.93. Costco Wholesale Corporation also saw some unusual options trading on Thursday. Investors bought 20,702 call options on the company. This represents an increase of approximately 169% compared to the typical volume of 7,689 call options.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The company had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, August 16th. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is 34.66%.
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Several brokerages have recently commented on COST. Robert W. Baird set a $200.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Friday. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research note on Monday. Wells Fargo & Company restated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus set a $173.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $179.56.
In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the sale, the director now owns 5,974 shares in the company, valued at $957,512.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Murphy sold 5,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the sale, the vice president now owns 48,845 shares of the company’s stock, valued at approximately $8,855,598.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock valued at $2,677,430 in the last quarter. Insiders own 0.74% of the company’s stock.
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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