Nissay Asset Management Corp Japan ADV Decreases Holdings in Costco Wholesale Corporation $COST

Key Points

• Nissay Asset Management Corp Japan ADV reduced its holdings in Costco Wholesale by 8.7%, owning 118,563 shares after selling 11,262 shares in the 1st quarter.
• Costco recently announced a quarterly dividend of $1.30 per share, representing an annualized dividend yield of 0.5%.
• Investment analysts have mixed ratings for Costco, with a consensus target price of $1,050 and most analysts maintaining a "Buy" rating for the company's stock.

Nissay Asset Management Corp Japan ADV cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,563 shares of the retailer's stock after selling 11,262 shares during the quarter. Costco Wholesale makes up 0.7% of Nissay Asset Management Corp Japan ADV's investment portfolio, making the stock its 25th largest holding. Nissay Asset Management Corp Japan ADV's holdings in Costco Wholesale were worth $112,135,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $25,000. Aspect Partners LLC increased its position in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale in the 4th quarter worth about $59,000. Finally, Bank & Trust Co increased its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $955.90 on Friday. The business has a 50 day moving average of $962.66 and a 200 day moving average of $978.32. The company has a market capitalization of $423.92 billion, a price-to-earnings ratio of 54.22, a PEG ratio of 5.32 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% 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 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on COST. Loop Capital decreased their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price 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.

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