Arcadia Investment Management Corp MI reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,121 shares of the retailer’s stock after selling 1,073 shares during the quarter. Costco Wholesale accounts for about 2.2% of Arcadia Investment Management Corp MI’s holdings, making the stock its 10th largest holding. Arcadia Investment Management Corp MI’s holdings in Costco Wholesale were worth $7,084,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Vanguard Group Inc. grew its holdings in shares of Costco Wholesale by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. BlackRock Inc. grew its holdings in shares of Costco Wholesale by 2.9% during the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after acquiring an additional 703,825 shares during the period. Capital World Investors grew its holdings in shares of Costco Wholesale by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. FMR LLC grew its holdings in shares of Costco Wholesale by 1.5% during the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after acquiring an additional 177,200 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Costco Wholesale by 2.3% during the 2nd quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after acquiring an additional 207,675 shares during the period. 71.49% of the stock is owned by institutional investors.
Costco Wholesale Co. (NASDAQ:COST) opened at $188.86 on Tuesday. The firm has a market capitalization of $82,184.63, a PE ratio of 32.31, a PEG ratio of 3.05 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $191.22.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.06%. Costco Wholesale’s dividend payout ratio is currently 32.89%.
Several analysts recently weighed in on COST shares. Moffett Nathanson started coverage on Costco Wholesale in a research note on Monday, December 4th. They issued a “buy” rating on the stock. < Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price target on the stock in a research note on Monday, August 21st. Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, August 24th. Morgan Stanley downgraded Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $200.00 target price on shares of Costco Wholesale in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $179.50.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the transaction, the director now owns 8,654 shares in the company, valued at $1,585,932.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the transaction, the vice president now owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,842 shares of company stock valued at $5,520,848. 0.74% of the stock is currently owned by company insiders.
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Costco Wholesale 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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