Costco Wholesale Corporation (COST) is Sterling Global Strategies LLC’s 2nd Largest Position
Sterling Global Strategies LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,358 shares of the retailer’s stock after selling 850 shares during the quarter. Costco Wholesale Corporation comprises about 18.2% of Sterling Global Strategies LLC’s holdings, making the stock its 2nd largest holding. Sterling Global Strategies LLC’s holdings in Costco Wholesale Corporation were worth $3,749,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of COST. Alliancebernstein L.P. grew its position in Costco Wholesale Corporation by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after acquiring an additional 129,106 shares during the period. Main Street Research LLC grew its position in Costco Wholesale Corporation by 4.9% in the first quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock worth $10,850,000 after acquiring an additional 3,023 shares during the period. Bank of New York Mellon Corp grew its position in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock worth $1,048,798,000 after acquiring an additional 79,201 shares during the period. Swiss National Bank grew its position in Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after acquiring an additional 331,400 shares during the period. Finally, Weik Investment Services Inc. grew its position in Costco Wholesale Corporation by 0.5% in the first quarter. Weik Investment Services Inc. now owns 14,148 shares of the retailer’s stock worth $2,372,000 after acquiring an additional 75 shares during the period. 72.50% of the stock is owned by hedge funds and other institutional investors.
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Costco Wholesale Corporation (COST) traded down 0.07% during mid-day trading on Wednesday, reaching $159.03. The company’s stock had a trading volume of 1,080,801 shares. The stock’s 50 day moving average price is $155.67 and its 200 day moving average price is $166.17. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The stock has a market capitalization of $69.75 billion, a P/E ratio of 27.61 and a beta of 0.93.
The business also recently announced 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 1.26%. The ex-dividend date was Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is 34.66%.
In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the sale, the director now owns 5,974 shares in the company, valued at approximately $957,512.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 3,000 shares of company stock worth $477,120. Company insiders own 0.74% of the company’s stock.
Several research analysts recently weighed in on the company. Wells Fargo & Company reiterated 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. Sanford C. Bernstein reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research report on Thursday, July 6th. Morgan Stanley increased their price objective on Costco Wholesale Corporation from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 31st. Finally, Oppenheimer Holdings, Inc. set a $185.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Saturday, May 27th. One 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. The company has an average rating of “Buy” and an average target price of $179.35.
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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