Great Lakes Advisors LLC Sells 14,230 Shares of Costco Wholesale Corporation (COST)

Great Lakes Advisors LLC decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 64.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,841 shares of the retailer’s stock after selling 14,230 shares during the period. Great Lakes Advisors LLC’s holdings in Costco Wholesale Corporation were worth $1,254,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its holdings in Costco Wholesale Corporation by 1.3% in the 1st quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock valued at $3,040,476,000 after acquiring an additional 239,479 shares during the last quarter. FMR LLC raised its holdings in Costco Wholesale Corporation by 1.5% in the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock valued at $2,028,898,000 after acquiring an additional 177,200 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Costco Wholesale Corporation by 1.3% in the 1st 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 last quarter. Ameriprise Financial Inc. raised its holdings in Costco Wholesale Corporation by 62.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after acquiring an additional 1,753,741 shares during the last quarter. Finally, Janus Capital Management LLC raised its holdings in Costco Wholesale Corporation by 8.6% in the 1st quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock valued at $768,494,000 after acquiring an additional 361,581 shares during the last quarter. Institutional investors own 72.41% of the company’s stock.

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Costco Wholesale Corporation (NASDAQ COST) opened at 162.29 on Wednesday. The stock has a market cap of $70.95 billion, a PE ratio of 26.69 and a beta of 0.94. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The firm has a 50-day moving average of $160.88 and a 200 day moving average of $164.03.

Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. Costco Wholesale Corporation’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current year.

In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total value of $159,250.00. Following the completion of the transaction, the director now directly owns 4,974 shares in the company, valued at $792,109.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction 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 $6,647,369.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,350 shares of company stock valued at $2,474,960. 0.74% of the stock is owned by insiders.

A number of research firms have commented on COST. Deutsche Bank AG set a $172.00 price objective on shares of Costco Wholesale Corporation and gave the company a “hold” rating in a report on Monday, July 31st. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $185.00 to $160.00 in a report on Monday, July 10th. Robert W. Baird reiterated a “buy” rating and issued a $200.00 price objective on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $173.00 price objective on shares of Costco Wholesale Corporation in a report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, September 19th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $178.50.

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.

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

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