Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,173,593 shares of the retailer’s stock after selling 177,192 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Costco Wholesale worth $631,839,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of COST. Morgan Stanley boosted its holdings in Costco Wholesale by 18.0% in the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after buying an additional 1,315,174 shares during the last quarter. Geode Capital Management LLC boosted its stake in Costco Wholesale by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 8,210,385 shares of the retailer’s stock worth $4,069,186,000 after purchasing an additional 111,505 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Costco Wholesale by 118,320.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after purchasing an additional 7,390,278 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Costco Wholesale by 10.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,595,523 shares of the retailer’s stock worth $2,780,247,000 after purchasing an additional 535,776 shares during the last quarter. Finally, Norges Bank acquired a new stake in Costco Wholesale during the 4th quarter worth $2,328,844,000. 66.31% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on COST. Truist Financial restated a “buy” rating and set a $619.00 target price on shares of Costco Wholesale in a report on Thursday, October 5th. Oppenheimer boosted their target price on Costco Wholesale from $575.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. StockNews.com began coverage on shares of Costco Wholesale in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Jefferies Financial Group boosted their price target on shares of Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Morgan Stanley boosted their price target on shares of Costco Wholesale from $535.00 to $585.00 and gave the company an “overweight” rating in a research report on Wednesday, September 27th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $586.25.
View Our Latest Report on Costco Wholesale
Costco Wholesale Stock Performance
NASDAQ COST traded up $3.06 on Friday, reaching $566.84. The stock had a trading volume of 1,244,163 shares, compared to its average volume of 1,810,983. The business’s 50-day moving average price is $555.45 and its 200 day moving average price is $530.62. Costco Wholesale Co. has a 12-month low of $447.90 and a 12-month high of $576.19. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.07. The stock has a market cap of $251.17 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 4.16 and a beta of 0.77.
Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its earnings results on Tuesday, September 26th. The retailer reported $4.86 EPS for the quarter, beating analysts’ consensus estimates of $4.79 by $0.07. Costco Wholesale had a net margin of 2.60% and a return on equity of 28.10%. The business had revenue of $78.94 billion during the quarter, compared to analysts’ expectations of $77.72 billion. During the same period in the prior year, the company earned $4.20 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 15.69 earnings per share for the current year.
Costco Wholesale Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, August 24th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.81%.
Insider Transactions at Costco Wholesale
In other news, CFO Richard A. Galanti sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $565.57, for a total transaction of $1,131,140.00. Following the completion of the sale, the chief financial officer now owns 28,138 shares in the company, valued at $15,914,008.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard A. Galanti sold 2,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $565.57, for a total transaction of $1,131,140.00. Following the completion of the transaction, the chief financial officer now directly owns 28,138 shares of the company’s stock, valued at $15,914,008.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick J. Callans sold 2,500 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $553.76, for a total transaction of $1,384,400.00. Following the transaction, the vice president now directly owns 67,934 shares of the company’s stock, valued at $37,619,131.84. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock worth $4,033,723 over the last 90 days. 0.22% of the stock is currently owned by insiders.
About Costco Wholesale
(Free Report)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.
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