Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Meiji Yasuda Life Insurance Co

Financial News Live · Mar 13, 2023 00:52

Meiji Yasuda Life Insurance Co cut its position in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 6.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,920 shares of the retailer's stock after selling 391 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Costco Wholesale were worth $2,796,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in COST. SeaCrest Wealth Management LLC increased its stake in Costco Wholesale by 12.0% during the third quarter. SeaCrest Wealth Management LLC now owns 12,380 shares of the retailer's stock worth $5,847,000 after acquiring an additional 1,325 shares during the last quarter. Truvestments Capital LLC raised its holdings in Costco Wholesale by 7.3% in the 3rd quarter. Truvestments Capital LLC now owns 738 shares of the retailer's stock valued at $349,000 after buying an additional 50 shares during the period. United Services Automobile Association lifted its holdings in shares of Costco Wholesale by 5.2% in the 3rd quarter. United Services Automobile Association now owns 17,086 shares of the retailer's stock worth $8,070,000 after acquiring an additional 851 shares during the last quarter. Summit Financial LLC boosted its position in shares of Costco Wholesale by 13.9% during the 3rd quarter. Summit Financial LLC now owns 6,074 shares of the retailer's stock worth $2,869,000 after purchasing an additional 742 shares during the period. Finally, Nan Shan Life Insurance Co. Ltd. increased its holdings in Costco Wholesale by 41.5% in the 3rd quarter. Nan Shan Life Insurance Co. Ltd. now owns 102,648 shares of the retailer's stock valued at $48,478,000 after purchasing an additional 30,093 shares during the last quarter. 66.03% of the stock is owned by hedge funds and other institutional investors.

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Costco Wholesale Stock Performance

NASDAQ:COST opened at $471.14 on Friday. Costco Wholesale Co. has a 1-year low of $406.51 and a 1-year high of $612.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 0.56. The firm's fifty day moving average price is $490.67 and its 200 day moving average price is $493.83. The firm has a market cap of $209.06 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79.

Costco Wholesale (NASDAQ:COST – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The retailer reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.10. The business had revenue of $55.27 billion for the quarter, compared to analyst estimates of $55.61 billion. Costco Wholesale had a net margin of 2.58% and a return on equity of 28.66%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.92 earnings per share. On average, sell-side analysts expect that Costco Wholesale Co. will post 14.37 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Friday, February 3rd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, February 2nd. Costco Wholesale's dividend payout ratio (DPR) is currently 26.45%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $488.95, for a total transaction of $733,425.00. Following the sale, the executive vice president now owns 10,093 shares of the company's stock, valued at $4,934,972.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP James C. Klauer sold 2,500 shares of the business's stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $503.69, for a total value of $1,259,225.00. Following the sale, the executive vice president now directly owns 40,884 shares in the company, valued at approximately $20,592,861.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $488.95, for a total transaction of $733,425.00. Following the transaction, the executive vice president now owns 10,093 shares of the company's stock, valued at $4,934,972.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,952 shares of company stock valued at $2,452,466. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cowen decreased their price target on Costco Wholesale from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Monday, January 23rd. Tigress Financial dropped their target price on Costco Wholesale from $678.00 to $635.00 and set a "buy" rating for the company in a research report on Wednesday, December 21st. BMO Capital Markets reduced their price target on shares of Costco Wholesale from $600.00 to $555.00 in a research report on Friday, December 9th. Wells Fargo & Company lowered their price target on shares of Costco Wholesale from $490.00 to $450.00 in a report on Friday, December 9th. Finally, MKM Partners dropped their target price on Costco Wholesale from $512.00 to $484.00 in a report on Friday, December 9th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $550.16.

Costco Wholesale Profile

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Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.