Marketfield Asset Management LLC decreased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 15.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,152 shares of the retailer’s stock after selling 11,340 shares during the quarter. Costco Wholesale Corporation makes up about 2.5% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Marketfield Asset Management LLC’s holdings in Costco Wholesale Corporation were worth $10,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. Sterling Investment Advisors Ltd. boosted its stake in Costco Wholesale Corporation by 12.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 3,925 shares of the retailer’s stock valued at $658,000 after buying an additional 425 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Costco Wholesale Corporation by 48.1% in the 1st quarter. Edgestream Partners L.P. now owns 2,304 shares of the retailer’s stock valued at $386,000 after buying an additional 748 shares in the last quarter. Shelton Capital Management raised its position in Costco Wholesale Corporation by 74.3% in the 1st quarter. Shelton Capital Management now owns 67,956 shares of the retailer’s stock valued at $11,396,000 after purchasing an additional 28,966 shares during the last quarter. AQR Capital Management LLC raised its position in Costco Wholesale Corporation by 46.6% in the 1st quarter. AQR Capital Management LLC now owns 531,356 shares of the retailer’s stock valued at $89,103,000 after purchasing an additional 168,954 shares during the last quarter. Finally, Signaturefd LLC bought a new position in Costco Wholesale Corporation in the 1st quarter valued at $246,000. 72.50% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Tuesday. Deutsche Bank AG reiterated a “hold” rating and issued a $172.00 price objective on shares of Costco Wholesale Corporation in a research report on Tuesday, September 5th. Guggenheim reiterated a “neutral” rating and issued a $140.00 price objective on shares of Costco Wholesale Corporation in a research report on Thursday, August 31st. Robert W. Baird reiterated a “buy” rating and issued a $200.00 price objective on shares of Costco Wholesale Corporation in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $185.00 price objective on shares of Costco Wholesale Corporation in a research report on Thursday, August 31st. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $179.23.
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Shares of Costco Wholesale Corporation (NASDAQ COST) traded down 0.04% during mid-day trading on Friday, reaching $162.30. The company had a trading volume of 3,757,799 shares. The firm has a 50-day moving average of $157.60 and a 200-day moving average of $165.44. The company has a market capitalization of $71.18 billion, a P/E ratio of 28.18 and a beta of 0.93. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. Costco Wholesale Corporation also saw unusually large options trading activity on Thursday. Stock traders purchased 6,031 put options on the company. This is an increase of 231% compared to the average daily volume of 1,822 put options.
The business 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 is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the transaction, the director now directly owns 6,974 shares of the company’s stock, valued at $1,099,032.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 3,000 shares of company stock valued at $477,120. 0.74% of the stock is owned by insiders.
Costco Wholesale Corporation 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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