Baker Ellis Asset Management LLC Boosts Stake in Costco Wholesale Corporation (COST)
Baker Ellis Asset Management LLC grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,904 shares of the retailer’s stock after purchasing an additional 160 shares during the period. Baker Ellis Asset Management LLC’s holdings in Costco Wholesale Corporation were worth $1,104,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of COST. Delta Asset Management LLC TN grew 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 buying an additional 65 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Costco Wholesale Corporation during the second quarter worth $107,000. Mercer Capital Advisers Inc. lifted 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 acquiring an additional 23 shares in the last quarter. Mosaic Family Wealth LLC lifted 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 acquiring an additional 100 shares in the last quarter. Finally, CKW Financial Group lifted 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 acquiring an additional 200 shares in the last quarter. 72.35% of the stock is currently owned by institutional investors.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were 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 directly owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock worth $481,760 in the last 90 days. Insiders own 0.74% of the company’s stock.
COST has been the subject of several recent research reports. Deutsche Bank AG set a $172.00 price target on Costco Wholesale Corporation and gave the company a “hold” rating in a research report on Monday, July 31st. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. BMO Capital Markets cut Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $185.00 to $160.00 in a research report on Monday, July 10th. Robert W. Baird reissued a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, September 19th. Ten investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Costco Wholesale Corporation currently has a consensus rating of “Buy” and an average target price of $179.40.
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Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 165.89 on Tuesday. 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 $72.76 billion, a price-to-earnings ratio of 28.80 and a beta of 0.94. The firm has a 50 day moving average price of $159.35 and a 200-day moving average price of $164.91.
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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