Private Wealth Partners LLC Purchases 12,785 Shares of Costco Wholesale Corporation (COST)
Private Wealth Partners LLC boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 62.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,249 shares of the retailer’s stock after buying an additional 12,785 shares during the period. Costco Wholesale Corporation comprises about 1.2% of Private Wealth Partners LLC’s holdings, making the stock its 29th largest position. Private Wealth Partners LLC’s holdings in Costco Wholesale Corporation were worth $5,318,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Brightworth boosted its stake in shares of Costco Wholesale Corporation by 0.3% in the second quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after buying an additional 4 shares during the period. Pioneer Trust Bank N A OR boosted its stake in shares of Costco Wholesale Corporation by 0.4% in the second quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after buying an additional 7 shares during the period. Marshall & Sullivan Inc. WA boosted its stake in shares of Costco Wholesale Corporation by 0.6% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,590 shares of the retailer’s stock worth $272,000 after buying an additional 10 shares during the period. CHICAGO TRUST Co NA boosted its stake in shares of Costco Wholesale Corporation by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,515 shares of the retailer’s stock worth $402,000 after buying an additional 12 shares during the period. Finally, Bank of The West boosted its stake in shares of Costco Wholesale Corporation by 0.4% in the second quarter. Bank of The West now owns 3,401 shares of the retailer’s stock worth $544,000 after buying an additional 15 shares during the period. Institutional investors own 72.51% of the company’s stock.
Shares of Costco Wholesale Corporation (COST) opened at 153.56 on Wednesday. The company has a market cap of $67.35 billion, a price-to-earnings ratio of 26.66 and a beta of 0.93. The firm has a 50-day moving average price of $155.03 and a 200 day moving average price of $167.02. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 annualized dividend and a yield of 1.30%. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
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A number of equities research analysts recently commented on the company. Bank of America Corporation reaffirmed a “buy” rating and set 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 stock 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 research note on Friday, May 26th. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. Finally, BMO Capital Markets cut Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $185.00 to $160.00 in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Costco Wholesale Corporation currently has an average rating of “Buy” and a consensus price target of $179.92.
In related news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total value of $906,600.00. Following the sale, the insider now owns 28,786 shares in the company, valued at $5,219,477.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Mckay sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $181.60, for a total transaction of $544,800.00. Following the completion of the sale, the insider now owns 62,607 shares in the company, valued at approximately $11,369,431.20. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $2,677,430 in the last 90 days. 0.74% of the stock is currently owned by corporate insiders.
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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