Bank of New York Mellon Corp Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Bank of New York Mellon Corp increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,113,982 shares of the retailer’s stock after purchasing an additional 593,908 shares during the period. Bank of New York Mellon Corp’s holdings in Costco Wholesale were worth $2,023,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Ironwood Wealth Management LLC. raised its holdings in Costco Wholesale by 18.2% in the 1st quarter. Ironwood Wealth Management LLC. now owns 3,283 shares of the retailer’s stock valued at $1,157,000 after acquiring an additional 506 shares during the last quarter. Clarus Group Inc. purchased a new position in shares of Costco Wholesale during the 1st quarter worth approximately $119,000. Meridian Wealth Management LLC boosted its position in shares of Costco Wholesale by 7.6% during the 1st quarter. Meridian Wealth Management LLC now owns 6,538 shares of the retailer’s stock worth $2,305,000 after purchasing an additional 461 shares during the period. Davidson Investment Advisors boosted its position in shares of Costco Wholesale by 10.3% during the 1st quarter. Davidson Investment Advisors now owns 655 shares of the retailer’s stock worth $231,000 after purchasing an additional 61 shares during the period. Finally, Kingfisher Capital LLC boosted its position in shares of Costco Wholesale by 8.1% during the 1st quarter. Kingfisher Capital LLC now owns 8,325 shares of the retailer’s stock worth $2,934,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 66.96% of the company’s stock.

NASDAQ:COST traded up $2.38 during midday trading on Tuesday, hitting $453.52. 38,291 shares of the company were exchanged, compared to its average volume of 2,267,391. The company has a fifty day simple moving average of $442.77 and a 200 day simple moving average of $396.18. Costco Wholesale Co. has a fifty-two week low of $307.00 and a fifty-two week high of $469.77. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $200.49 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 4.35 and a beta of 0.66.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were paid a $0.79 dividend. The ex-dividend date was Thursday, July 29th. This represents a $3.16 dividend on an annualized basis and a yield of 0.70%. Costco Wholesale’s dividend payout ratio is presently 35.71%.

A number of research firms recently weighed in on COST. Robert W. Baird increased their price objective on shares of Costco Wholesale from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, September 2nd. Barclays raised their price target on shares of Costco Wholesale from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. They noted that the move was a valuation call. Telsey Advisory Group raised their price target on shares of Costco Wholesale from $465.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. Wells Fargo & Company raised their price target on shares of Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, Oppenheimer reissued a “buy” rating and issued a $500.00 price target on shares of Costco Wholesale in a research report on Friday. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $441.32.

In other Costco Wholesale news, VP Joseph P. Portera sold 3,287 shares of the company’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $445.50, for a total value of $1,464,358.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $396.14, for a total transaction of $1,584,560.00. Following the completion of the sale, the vice president now directly owns 26,625 shares in the company, valued at approximately $10,547,227.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,287 shares of company stock worth $4,686,519. Insiders own 0.22% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.

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

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