Nippon Life Global Investors Americas Inc. cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 24.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,240 shares of the retailer’s stock after selling 9,780 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Costco Wholesale were worth $7,104,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. R. G. Niederhoffer Capital Management Inc. bought a new stake in Costco Wholesale during the third quarter valued at $329,000. Moody National Bank Trust Division boosted its stake in Costco Wholesale by 1,078.2% during the third quarter. Moody National Bank Trust Division now owns 38,350 shares of the retailer’s stock valued at $9,008,000 after buying an additional 35,095 shares during the period. Bray Capital Advisors boosted its stake in Costco Wholesale by 8.2% during the third quarter. Bray Capital Advisors now owns 7,515 shares of the retailer’s stock valued at $1,765,000 after buying an additional 572 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Costco Wholesale by 55.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 179,708 shares of the retailer’s stock valued at $42,208,000 after buying an additional 63,781 shares during the period. Finally, Provident Trust Co. boosted its stake in Costco Wholesale by 2.6% during the third quarter. Provident Trust Co. now owns 666,725 shares of the retailer’s stock valued at $156,600,000 after buying an additional 17,034 shares during the period. Institutional investors own 71.65% of the company’s stock.
COST stock opened at $230.16 on Monday. Costco Wholesale Co. has a fifty-two week low of $163.78 and a fifty-two week high of $245.16. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50. The company has a market cap of $100.86 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.94 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The firm had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same quarter in the prior year, the business earned $2.08 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post 7.7 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. Costco Wholesale’s dividend payout ratio is currently 33.38%.
In other news, VP Richard A. Galanti sold 4,163 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $227.23, for a total value of $945,958.49. Following the sale, the vice president now directly owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $226.76, for a total value of $5,215,480.00. Following the completion of the sale, the vice president now directly owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,312 shares of company stock worth $14,547,272. Insiders own 0.58% of the company’s stock.
Several research firms recently issued reports on COST. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 23rd. Wells Fargo & Co lifted their price target on Costco Wholesale from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, July 12th. Cowen reissued a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a research note on Friday, August 10th. Telsey Advisory Group boosted their target price on Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Finally, Loop Capital boosted their price target on Costco Wholesale to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $237.94.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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