Costco Wholesale Co. (COST) Position Lowered by Private Asset Management Inc.
Private Asset Management Inc. lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 82.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,293 shares of the retailer’s stock after selling 49,330 shares during the period. Costco Wholesale accounts for 1.7% of Private Asset Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Private Asset Management Inc.’s holdings in Costco Wholesale were worth $10,293,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Alliancebernstein L.P. lifted its stake in shares of Costco Wholesale by 4.1% in the 1st 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. Mechanics Bank Trust Department lifted its stake in shares of Costco Wholesale by 4.8% in the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock valued at $5,366,000 after purchasing an additional 1,529 shares during the period. Cadinha & Co. LLC lifted its stake in shares of Costco Wholesale by 7.3% in the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock valued at $19,934,000 after purchasing an additional 8,518 shares during the period. Stephens Inc. AR lifted its stake in shares of Costco Wholesale by 3.1% in the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock valued at $7,446,000 after purchasing an additional 1,350 shares during the period. Finally, Intersect Capital LLC lifted its stake in shares of Costco Wholesale by 143.4% in the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock valued at $861,000 after purchasing an additional 3,171 shares during the period. Hedge funds and other institutional investors own 71.49% of the company’s stock.
Costco Wholesale Co. (NASDAQ COST) opened at $188.07 on Friday. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $191.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99. The company has a market cap of $81,367.46, a price-to-earnings ratio of 31.99, a PEG ratio of 3.02 and a beta of 0.98.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.50 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.89%.
In related news, Director Richard M. Libenson sold 2,350 shares of Costco Wholesale stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the completion of the sale, the director now owns 4,109 shares in the company, valued at $665,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dennis R. Zook sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $161.92, for a total transaction of $809,600.00. Following the sale, the vice president now owns 626 shares of the company’s stock, valued at approximately $101,361.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,842 shares of company stock valued at $5,520,848. Insiders own 0.74% of the company’s stock.
Several analysts recently commented on the stock. Moffett Nathanson assumed coverage on shares of Costco Wholesale in a research note on Monday, December 4th. They issued a “buy” rating for the company. < J P Morgan Chase & Co restated a "buy" rating and set a $200.00 target price on shares of Costco Wholesale in a report on Monday, December 4th. Vetr downgraded shares of Costco Wholesale from a “hold” rating to a “sell” rating and set a $175.44 target price for the company. in a report on Friday, December 1st. Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a report on Thursday, November 30th. Finally, Stifel Nicolaus raised their target price on shares of Costco Wholesale from $179.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $179.50.
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Costco Wholesale 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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