Sumitomo Life Insurance Co. cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,855 shares of the retailer’s stock after selling 806 shares during the period. Sumitomo Life Insurance Co.’s holdings in Costco Wholesale were worth $3,882,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 purchasing an additional 937,121 shares during the period. BlackRock Inc. boosted its position in 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 purchasing an additional 703,825 shares during the period. Capital World Investors boosted its position in 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 purchasing an additional 1,007,720 shares during the period. Capital Research Global Investors boosted its position in 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 purchasing an additional 207,675 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Costco Wholesale by 14.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock worth $1,118,138,000 after purchasing an additional 858,969 shares during the period. 70.87% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Vetr cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $200.28 price target for the company. in a research report on Monday, January 22nd. BMO Capital Markets set a $223.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, December 15th. Susquehanna Bancshares boosted their price objective on shares of Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a report on Friday, December 15th. Finally, Barclays reiterated a “buy” rating and issued a $208.00 price objective on shares of Costco Wholesale in a report on Tuesday, December 19th. Ten investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $190.18.
In related news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, 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 through this hyperlink. Also, Director James D. Sinegal sold 30,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $192.06, for a total transaction of $5,761,800.00. Following the sale, the director now owns 746,209 shares in the company, valued at approximately $143,316,900.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,185 shares of company stock worth $17,408,817. 0.58% of the stock is owned by company insiders.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at $188.12 on Wednesday. The stock has a market cap of $84,115.13, a PE ratio of 29.91, a PEG ratio of 3.13 and a beta of 0.99. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $199.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. The firm had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. Costco Wholesale’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. sell-side analysts forecast that Costco Wholesale Co. will post 6.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 annualized dividend and a yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
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About Costco Wholesale
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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