Fiduciary Trust Co. trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,930 shares of the retailer’s stock after selling 332 shares during the period. Fiduciary Trust Co.’s holdings in Costco Wholesale Corporation were worth $1,329,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in Costco Wholesale Corporation by 4.1% in the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock valued at $544,809,000 after acquiring an additional 129,106 shares during the period. Main Street Research LLC grew its position in Costco Wholesale Corporation by 4.9% in the first quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock valued at $10,850,000 after acquiring an additional 3,023 shares during the period. Bank of New York Mellon Corp grew its position in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock valued at $1,048,798,000 after acquiring an additional 79,201 shares during the period. Swiss National Bank grew its position in Costco Wholesale Corporation by 26.2% in the first quarter. Swiss National Bank now owns 1,597,008 shares of the retailer’s stock valued at $267,802,000 after acquiring an additional 331,400 shares during the period. Finally, Weik Investment Services Inc. grew its position in Costco Wholesale Corporation by 0.5% in the first quarter. Weik Investment Services Inc. now owns 14,148 shares of the retailer’s stock valued at $2,372,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 72.50% of the company’s stock.
Costco Wholesale Corporation (NASDAQ COST) traded down 1.24% during midday trading on Friday, hitting $157.31. The stock had a trading volume of 3,364,570 shares. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The company’s 50 day moving average price is $156.29 and its 200-day moving average price is $166.01. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 27.31 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, August 16th. Costco Wholesale Corporation’s payout ratio is currently 34.66%.
COST has been the topic of a number of analyst reports. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research report on Monday, August 21st. Deutsche Bank AG restated a “hold” rating and set a $172.00 target price on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. BidaskClub cut Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, BMO Capital Markets set a $160.00 target price on Costco Wholesale Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale Corporation has an average rating of “Buy” and a consensus price target of $179.35.
In other news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total value of $159,250.00. Following the transaction, the director now directly owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,000 shares of company stock worth $477,120 over the last three months. 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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