Mengis Capital Management Inc. decreased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,734 shares of the retailer’s stock after selling 450 shares during the period. Costco Wholesale Corporation accounts for 2.1% of Mengis Capital Management Inc.’s holdings, making the stock its 14th largest position. Mengis Capital Management Inc.’s holdings in Costco Wholesale Corporation were worth $2,806,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. increased its stake in Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after buying an additional 201 shares during the period. Mosaic Family Wealth LLC increased its stake in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares during the period. CKW Financial Group increased its stake in Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after buying an additional 200 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Costco Wholesale Corporation by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock valued at $154,000 after buying an additional 540 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Costco Wholesale Corporation by 2.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 972 shares of the retailer’s stock valued at $163,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 72.51% of the company’s stock.

Shares of Costco Wholesale Corporation (NASDAQ COST) traded up 0.27% during midday trading on Wednesday, reaching $153.97. The company had a trading volume of 724,707 shares. The company’s 50 day moving average price is $155.03 and its 200 day moving average price is $167.02. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The stock has a market capitalization of $67.53 billion, a PE ratio of 26.73 and a beta of 0.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio is 34.66%.

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Several analysts have recently weighed in on the company. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. BMO Capital Markets set a $160.00 price objective on Costco Wholesale Corporation and gave the company a “hold” rating in a report on Tuesday. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a report on Friday, June 2nd. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective for the company in a report on Monday, August 21st. Finally, BidaskClub upgraded Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One equities research 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 assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $179.92.

In related news, VP James P. Murphy sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the transaction, the vice president now directly owns 48,845 shares of the company’s stock, valued at approximately $8,855,598.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the transaction, the director now directly owns 5,974 shares of the company’s stock, valued at $957,512.72. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock valued at $2,677,430 over the last three months. Corporate insiders own 0.74% of the company’s stock.

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

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