Laurel Grove Capital LLC Has $447,000 Position in Costco Wholesale Corporation (COST)
Laurel Grove Capital LLC continued to hold its stake in Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,794 shares of the retailer’s stock at the end of the second quarter. Laurel Grove Capital LLC’s holdings in Costco Wholesale Corporation were worth $447,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of COST. Ameriprise Financial Inc. lifted its holdings in shares of Costco Wholesale Corporation by 62.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after purchasing an additional 1,753,741 shares in the last quarter. Magellan Asset Management Ltd increased its position in shares of Costco Wholesale Corporation by 13.9% during the 1st quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock valued at $732,000,000 after purchasing 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% during the 1st quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock valued at $768,494,000 after purchasing an additional 361,581 shares during the last quarter. Swiss National Bank increased its position in shares of Costco Wholesale Corporation by 26.2% during the 1st quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock valued at $267,802,000 after purchasing 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% during the 1st quarter. Teachers Advisors LLC now owns 1,089,081 shares of the retailer’s stock valued at $182,628,000 after purchasing an additional 315,512 shares during the last quarter. Institutional investors own 72.35% of the company’s stock.
COST has been the subject of several research analyst reports. Vetr raised Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a research report on Monday, August 21st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 24th. Robert W. Baird restated an “outperform” rating and issued a $200.00 target price on shares of Costco Wholesale Corporation in a research note on Tuesday, May 30th. Barclays PLC restated an “overweight” rating and issued a $190.00 target price (up previously from $185.00) on shares of Costco Wholesale Corporation in a research note on Sunday, May 28th. Finally, BidaskClub downgraded Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $179.37.
Costco Wholesale Corporation (NASDAQ COST) traded down 0.69% during trading on Thursday, hitting $161.73. The stock had a trading volume of 843,744 shares. The company has a market cap of $70.93 billion, a price-to-earnings ratio of 28.08 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. The firm’s 50-day moving average price is $157.91 and its 200-day moving average price is $165.08.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, August 16th. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s payout ratio is currently 34.66%.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total transaction of $160,280.00. Following the completion of the sale, the director now directly owns 5,974 shares in the company, valued at approximately $957,512.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 3,000 shares of company stock valued at $477,120. 0.74% of the stock is owned by company insiders.
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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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