John W. Meisenbach Sells 1,000 Shares of Costco Wholesale Corporation (COST) Stock
Costco Wholesale Corporation (NASDAQ:COST) Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the completion of the transaction, the director now directly owns 6,974 shares in the company, valued at $1,099,032.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Costco Wholesale Corporation (NASDAQ COST) opened at 158.86 on Thursday. The firm has a market cap of $69.67 billion, a price-to-earnings ratio of 27.58 and a beta of 0.93. The stock’s 50 day moving average is $155.88 and its 200 day moving average is $166.12. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.
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A number of institutional investors have recently modified their holdings of COST. Delta Asset Management LLC TN grew its holdings in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in Costco Wholesale Corporation during the 2nd quarter worth about $101,000. Northwest Investment Counselors LLC bought a new position in Costco Wholesale Corporation during the 2nd quarter worth about $107,000. Mercer Capital Advisers Inc. grew its holdings in Costco Wholesale Corporation by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its holdings in Costco Wholesale Corporation by 16.7% during the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 72.50% of the company’s stock.
COST has been the topic of a number of recent analyst reports. Northcoast Research raised shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Tuesday, June 20th. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a research note on Friday, July 7th. BMO Capital Markets cut shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $185.00 to $160.00 in a research note on Monday, July 10th. Goldman Sachs Group, Inc. (The) cut shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and decreased their price objective for the company from $197.00 to $176.00 in a research note on Friday, June 16th. Finally, BidaskClub cut shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $179.35.
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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