Grandfield & Dodd LLC Lowers Position in Costco Wholesale Corporation (COST)
Grandfield & Dodd LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,774 shares of the retailer’s stock after selling 350 shares during the period. Grandfield & Dodd LLC’s holdings in Costco Wholesale Corporation were worth $764,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Delta Asset Management LLC TN raised its stake in Costco Wholesale Corporation by 11.6% in the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares during the period. Mercer Capital Advisers Inc. raised its stake in Costco Wholesale Corporation by 43.4% in the 1st quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after acquiring an additional 201 shares during the period. Northwest Investment Counselors LLC bought a new stake in Costco Wholesale Corporation in the 2nd quarter valued at about $107,000. Mosaic Family Wealth LLC raised its stake in Costco Wholesale Corporation by 16.7% in the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after acquiring an additional 100 shares during the period. Finally, CKW Financial Group raised its stake in Costco Wholesale Corporation by 33.1% in the 1st quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 72.50% of the company’s stock.
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In other news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the transaction, the director now owns 6,974 shares in the company, valued at approximately $1,099,032.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 3,000 shares of company stock valued at $477,120. Company insiders own 0.74% of the company’s stock.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 162.30 on Friday. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The company has a market cap of $71.18 billion, a P/E ratio of 28.18 and a beta of 0.93. The firm has a 50-day moving average price of $157.60 and a 200 day moving average price of $165.44. Costco Wholesale Corporation also was the recipient of unusually large options trading on Thursday. Investors bought 6,031 put options on the company. This represents an increase of approximately 231% compared to the typical volume of 1,822 put options.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.50 dividend. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Costco Wholesale Corporation’s payout ratio is 34.66%.
COST has been the topic of a number of research reports. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective on the stock in a research note on Monday, August 21st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 24th. Robert W. Baird restated an “outperform” rating and issued a $200.00 price objective on shares of Costco Wholesale Corporation in a research note on Tuesday, May 30th. Barclays PLC restated an “overweight” rating and issued a $190.00 price objective (up from $185.00) on shares of Costco Wholesale Corporation in a research note on Sunday, May 28th. Finally, BidaskClub cut Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Ten 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. The company presently has an average rating of “Buy” and a consensus target price 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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