Janney Montgomery Scott LLC Sells 10,642 Shares of Costco Wholesale Corp. (COST)
Janney Montgomery Scott LLC cut its position in Costco Wholesale Corp. (NASDAQ:COST) by 17.9% during the second quarter, Holdings Channel reports. The fund owned 48,896 shares of the retailer’s stock after selling 10,642 shares during the period. Janney Montgomery Scott LLC’s holdings in Costco Wholesale Corp. were worth $7,897,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of COST. FCM Investments TX acquired a new stake in Costco Wholesale Corp. during the second quarter worth $133,000. Zions Bancorporation boosted its stake in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock worth $139,000 after buying an additional 417 shares in the last quarter. Signaturefd LLC boosted its stake in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares in the last quarter. Smith & Howard Wealth Management LLC boosted its stake in Costco Wholesale Corp. by 4.0% in the first quarter. Smith & Howard Wealth Management LLC now owns 1,297 shares of the retailer’s stock worth $204,000 after buying an additional 50 shares in the last quarter. Finally, Peak Asset Management LLC acquired a new stake in Costco Wholesale Corp. during the second quarter worth $207,000. 73.02% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corp. (NASDAQ:COST) traded down 0.19% during mid-day trading on Friday, hitting $152.86. The company had a trading volume of 1,278,251 shares. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73. The firm has a market capitalization of $66.96 billion, a PE ratio of 28.89 and a beta of 0.59. The company’s 50 day moving average price is $161.01 and its 200-day moving average price is $156.36.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. Costco Wholesale Corp.’s payout ratio is currently 33.96%.
COST has been the subject of a number of recent analyst reports. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Costco Wholesale Corp. in a report on Wednesday, September 7th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale Corp. in a report on Sunday, September 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a $180.00 price target on shares of Costco Wholesale Corp. in a report on Sunday, September 4th. Nomura reaffirmed a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corp. in a report on Thursday, August 25th. Finally, Zacks Investment Research cut Costco Wholesale Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.52.
In other Costco Wholesale Corp. news, VP Douglas W. Schutt sold 14,656 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $166.76, for a total transaction of $2,444,034.56. Following the completion of the sale, the vice president now directly owns 40,184 shares in the company, valued at approximately $6,701,083.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John D. Mckay sold 7,500 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $166.58, for a total value of $1,249,350.00. Following the sale, the executive vice president now owns 58,535 shares of the company’s stock, valued at $9,750,760.30. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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