Costco Wholesale Corporation (COST) Shares Bought by State Street Corp
State Street Corp increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 18,131,561 shares of the retailer’s stock after buying an additional 239,479 shares during the period. State Street Corp’s holdings in Costco Wholesale Corporation were worth $3,040,476,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of COST. Daiwa SB Investments Ltd. bought a new stake in Costco Wholesale Corporation during the first quarter valued at approximately $631,000. Bank of Montreal Can boosted its stake in Costco Wholesale Corporation by 7.8% in the first quarter. Bank of Montreal Can now owns 899,956 shares of the retailer’s stock valued at $150,914,000 after buying an additional 65,192 shares in the last quarter. Stillwater Investment Management LLC boosted its stake in Costco Wholesale Corporation by 1.8% in the first quarter. Stillwater Investment Management LLC now owns 12,757 shares of the retailer’s stock valued at $2,139,000 after buying an additional 231 shares in the last quarter. WCM Investment Management CA boosted its stake in Costco Wholesale Corporation by 0.3% in the first quarter. WCM Investment Management CA now owns 227,814 shares of the retailer’s stock valued at $38,202,000 after buying an additional 646 shares in the last quarter. Finally, National Pension Service boosted its stake in Costco Wholesale Corporation by 3.8% in the first quarter. National Pension Service now owns 299,672 shares of the retailer’s stock valued at $50,312,000 after buying an additional 10,929 shares in the last quarter. 74.14% of the stock is owned by hedge funds and other institutional investors.
Costco Wholesale Corporation (NASDAQ COST) traded up 0.324% during trading on Friday, hitting $157.147. 788,529 shares of the company were exchanged. The firm’s 50 day moving average price is $155.55 and its 200-day moving average price is $167.61. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The stock has a market capitalization of $68.92 billion, a PE ratio of 27.282 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The company had revenue of $28.86 billion during the quarter, compared to analyst estimates of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Equities analysts predict that Costco Wholesale Corporation will post $5.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. 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 1.28%. Costco Wholesale Corporation’s dividend payout ratio is currently 34.66%.
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Several research firms have recently commented on COST. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a research report on Thursday, May 4th. Cowen and Company reaffirmed an “outperform” rating on shares of Costco Wholesale Corporation in a research report on Tuesday, June 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Costco Wholesale Corporation in a research report on Friday, June 2nd. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale Corporation in a research report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) cut shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $176.00 in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $179.11.
In other Costco Wholesale Corporation news, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the completion of the sale, the insider now directly owns 28,786 shares in the company, valued at $5,219,477.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $792,109.50. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock valued at $2,677,430 over the last 90 days. 0.74% of the stock is currently owned by 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.
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