Meiji Yasuda Life Insurance Co Sells 650 Shares of Costco Wholesale Corporation $COST

Key Points

• Meiji Yasuda Life Insurance Co reduced its stake in Costco Wholesale by 6.0%, selling 650 shares to hold a total of 10,233 shares valued at approximately $9.68 million.
• Costco recently declared a quarterly dividend of $1.30 per share, leading to an annualized dividend yield of 0.5% and a payout ratio of 29.50%.
• Costco's stock is currently trading at $963.48, with a market capitalization of $427.28 billion and a consensus rating of "Moderate Buy" among analysts.

Meiji Yasuda Life Insurance Co trimmed its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,233 shares of the retailer's stock after selling 650 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Costco Wholesale were worth $9,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Coppell Advisory Solutions LLC grew its position in Costco Wholesale by 87.8% in the 1st quarter. Coppell Advisory Solutions LLC now owns 6,454 shares of the retailer's stock worth $6,400,000 after purchasing an additional 3,017 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Costco Wholesale by 3.0% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,258 shares of the retailer's stock worth $2,136,000 after acquiring an additional 65 shares in the last quarter. Hamilton Capital LLC grew its stake in shares of Costco Wholesale by 2.2% during the first quarter. Hamilton Capital LLC now owns 592 shares of the retailer's stock valued at $560,000 after purchasing an additional 13 shares during the last quarter. Sciencast Management LP bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $1,617,000. Finally, Fred Alger Management LLC bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $9,581,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Up 0.8%

COST stock opened at $963.48 on Monday. The firm has a 50-day moving average price of $962.23 and a 200-day moving average price of $976.69. The stock has a market capitalization of $427.28 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. raised their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,147 shares of company stock worth $5,031,130. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company Profile

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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