Nippon Life Global Investors Americas Inc. Sells 3,470 Shares of Costco Wholesale Corporation $COST

Key Points

• Nippon Life Global Investors Americas Inc. reduced its stake in Costco Wholesale by 4.8%, leaving it with 68,380 shares valued at approximately $64.67 million, making it the 7th largest holding in their portfolio.
• Costco recently declared a quarterly dividend of $1.30, which provides an annualized yield of 0.5% and a payout ratio of 29.50%.
• Analysts are optimistic about Costco, with the stock receiving an average rating of "Moderate Buy" and a price target of $1,050.00 from several brokerages.

Nippon Life Global Investors Americas Inc. cut its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,380 shares of the retailer's stock after selling 3,470 shares during the period. Costco Wholesale makes up 3.2% of Nippon Life Global Investors Americas Inc.'s holdings, making the stock its 7th largest position. Nippon Life Global Investors Americas Inc.'s holdings in Costco Wholesale were worth $64,672,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Costco Wholesale by 2.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 371,795 shares of the retailer's stock valued at $351,636,000 after purchasing an additional 9,501 shares during the period. Infusive Asset Management Inc. increased its holdings in shares of Costco Wholesale by 36.8% in the first quarter. Infusive Asset Management Inc. now owns 14,654 shares of the retailer's stock valued at $13,859,000 after purchasing an additional 3,941 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Costco Wholesale by 315.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 167,805 shares of the retailer's stock valued at $158,707,000 after purchasing an additional 127,376 shares during the period. KADENSA CAPITAL Ltd acquired a new position in shares of Costco Wholesale in the first quarter valued at about $4,633,000. Finally, Gotham Asset Management LLC increased its holdings in shares of Costco Wholesale by 7.7% in the first quarter. Gotham Asset Management LLC now owns 11,443 shares of the retailer's stock valued at $10,823,000 after purchasing an additional 820 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

COST traded up $7.58 during trading on Friday, hitting $963.48. The company's stock had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. 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 twelve month low of $867.16 and a twelve month high of $1,078.23. The business's fifty day simple moving average is $962.23 and its 200 day simple moving average is $977.09. The firm has a market capitalization of $427.28 billion, a price-to-earnings ratio of 54.65, a P/E/G ratio of 5.40 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,147 shares of company stock valued at $8,039,440 in the last three months. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Loop Capital dropped their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Evercore ISI dropped their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, August 27th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,050.00.

Costco Wholesale 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.