Mechanics Bank Trust Department increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,556 shares of the retailer’s stock after buying an additional 1,529 shares during the period. Costco Wholesale Corporation accounts for about 1.3% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 24th largest position. Mechanics Bank Trust Department’s holdings in Costco Wholesale Corporation were worth $5,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COST. Ameriprise Financial Inc. increased its position in shares of Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after buying an additional 1,753,741 shares during the last quarter. Magellan Asset Management Ltd increased its position in shares of Costco Wholesale Corporation by 13.9% in the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock worth $732,000,000 after buying an additional 532,896 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Costco Wholesale Corporation by 8.6% in the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after buying an additional 361,581 shares during the last quarter. Swiss National Bank increased its position in shares of Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock worth $267,802,000 after buying an additional 331,400 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Costco Wholesale Corporation by 40.8% in the first quarter. Teachers Advisors LLC now owns 1,089,081 shares of the retailer’s stock worth $182,628,000 after buying an additional 315,512 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Costco Wholesale Corporation (NASDAQ COST) traded down 0.239% during trading on Monday, reaching $152.085. The company’s stock had a trading volume of 1,836,807 shares. The firm’s 50-day moving average is $155.03 and its 200 day moving average is $167.02. The company has a market cap of $66.70 billion, a PE ratio of 26.404 and a beta of 0.93. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18.

Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm had revenue of $28.86 billion during the quarter, compared to analyst estimates of $28.57 billion. During the same period in the previous year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.31%. Costco Wholesale Corporation’s payout ratio is 34.66%.

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A number of research analysts recently weighed in on COST shares. Northcoast Research raised 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 downgraded Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and cut 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) downgraded Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $176.00 in a research note on Friday, June 16th. Finally, BidaskClub downgraded 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 given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Costco Wholesale Corporation currently has a consensus rating of “Buy” and an average target price of $179.56.

In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total value of $159,250.00. Following the completion of the transaction, the director now directly owns 4,974 shares in the company, valued at $792,109.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John D. Mckay sold 3,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $181.60, for a total transaction of $544,800.00. Following the completion of the transaction, the insider now owns 62,607 shares of the company’s stock, valued at $11,369,431.20. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $2,677,430 over the last quarter. 0.74% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Costco Wholesale Corporation (NASDAQ:COST)

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