General American Investors Co. Inc. Sells 50,000 Shares of Costco Wholesale Corporation (COST)
General American Investors Co. Inc. decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 29.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,781 shares of the retailer’s stock after selling 50,000 shares during the quarter. Costco Wholesale Corporation comprises 1.9% of General American Investors Co. Inc.’s holdings, making the stock its 21st largest holding. General American Investors Co. Inc.’s holdings in Costco Wholesale Corporation were worth $18,997,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of COST. Delta Asset Management LLC TN boosted its position in shares of Costco Wholesale Corporation by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after buying an additional 65 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Costco Wholesale Corporation during the second quarter worth $107,000. Mercer Capital Advisers Inc. boosted its position in shares of Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the period. Finally, CKW Financial Group boosted its position in shares of Costco Wholesale Corporation by 33.1% during the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $135,000 after buying an additional 200 shares during the period. 72.35% of the stock is owned by institutional investors.
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Several research firms have recently commented on COST. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a research report on Thursday. Deutsche Bank AG set a $155.00 price target on Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Friday. Jefferies Group LLC restated a “hold” rating and set a $162.00 price target (down from $168.00) on shares of Costco Wholesale Corporation in a research report on Friday. Finally, Robert W. Baird set a $200.00 price target on Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $178.39.
Costco Wholesale Corporation (NASDAQ COST) opened at 157.09 on Friday. The company has a 50-day moving average price of $159.96 and a 200 day moving average price of $164.83. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The firm has a market cap of $68.90 billion, a PE ratio of 27.27 and a beta of 0.94. Costco Wholesale Corporation also was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 21,435 call options on the stock. This represents an increase of approximately 266% compared to the average volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. Costco Wholesale Corporation’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current year.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the sale, the director now owns 6,974 shares in the company, valued at $1,099,032.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 3,000 shares of company stock worth $481,760. 0.74% of the stock is owned by company insiders.
Costco Wholesale Corporation 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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