Securian Asset Management Inc. Has $22.96 Million Holdings in Costco Wholesale Corporation $COST

Key Points

• Securian Asset Management Inc. has reduced its holdings in Costco Wholesale Corporation by 1.3%, now owning 23,197 shares valued at approximately $22.96 million.
• Costco's recent quarterly earnings report showed earnings per share of $5.87, beating estimates and showing an 8.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.30, payable on November 14th, with the ex-dividend date set for October 31st, reflecting a yield of 0.6%.

Securian Asset Management Inc. cut its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,197 shares of the retailer's stock after selling 306 shares during the period. Costco Wholesale accounts for about 0.7% of Securian Asset Management Inc.'s investment portfolio, making the stock its 24th biggest position. Securian Asset Management Inc.'s holdings in Costco Wholesale were worth $22,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after buying an additional 443,101 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Costco Wholesale by 0.4% during the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer's stock worth $4,097,127,000 after purchasing an additional 18,045 shares in the last quarter. Invesco Ltd. lifted its position in shares of Costco Wholesale by 5.2% during the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer's stock worth $3,695,796,000 after purchasing an additional 191,985 shares in the last quarter. Nuveen LLC acquired a new position in shares of Costco Wholesale during the first quarter worth approximately $3,461,159,000. Finally, Jennison Associates LLC lifted its position in shares of Costco Wholesale by 3.9% during the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock worth $3,175,579,000 after purchasing an additional 125,441 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares of the company's stock, valued at $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Down 0.0%

Shares of NASDAQ COST opened at $936.11 on Tuesday. The company's 50 day simple moving average is $948.46 and its 200 day simple moving average is $971.70. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The firm has a market capitalization of $414.86 billion, a P/E ratio of 51.41, a P/E/G ratio of 5.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same period in the prior year, the business posted $5.15 earnings per share. Costco Wholesale's revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale's dividend payout ratio is presently 28.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COST shares. Argus upped their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Oppenheimer reiterated an "outperform" rating and set a $1,130.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 24th. JPMorgan Chase & Co. reduced their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Finally, Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the stock a "neutral" rating in a research report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,068.15.

About Costco Wholesale

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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