Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 118,768 shares of the retailer’s stock after selling 2,932 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Costco Wholesale were worth $33,864,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bluefin Trading LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $3,440,000. Arrow Financial Corp grew its position in shares of Costco Wholesale by 3.0% during the 4th quarter. Arrow Financial Corp now owns 10,631 shares of the retailer’s stock valued at $3,125,000 after acquiring an additional 305 shares during the period. Adell Harriman & Carpenter Inc. grew its position in shares of Costco Wholesale by 18.2% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 16,458 shares of the retailer’s stock valued at $4,837,000 after acquiring an additional 2,538 shares during the period. Alhambra Investment Partners LLC acquired a new stake in Costco Wholesale in the 4th quarter worth about $1,039,000. Finally, Solstein Capital LLC acquired a new stake in Costco Wholesale in the 4th quarter worth about $327,000. 69.20% of the stock is currently owned by institutional investors.
Costco Wholesale stock traded up $1.51 during trading on Friday, hitting $303.48. The company had a trading volume of 975,781 shares, compared to its average volume of 2,867,954. Costco Wholesale Co. has a 1-year low of $233.05 and a 1-year high of $325.26. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44. The company’s 50 day simple moving average is $303.92 and its 200-day simple moving average is $301.88. The stock has a market cap of $134.64 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 4.25 and a beta of 0.71.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.70 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.80 annualized dividend and a dividend yield of 0.92%. Costco Wholesale’s payout ratio is 34.19%.
Several equities research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Costco Wholesale from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Barclays reiterated a “neutral” rating on shares of Costco Wholesale in a report on Sunday, March 8th. Royal Bank of Canada lifted their price objective on Costco Wholesale from $343.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Deutsche Bank decreased their target price on shares of Costco Wholesale from $292.00 to $290.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Finally, Wolfe Research assumed coverage on shares of Costco Wholesale in a research note on Tuesday, March 31st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $318.54.
In related news, CFO Richard A. Galanti sold 1,448 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $306.51, for a total transaction of $443,826.48. Following the completion of the transaction, the chief financial officer now owns 23,967 shares in the company, valued at $7,346,125.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James P. Murphy sold 5,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total transaction of $1,550,000.00. Following the transaction, the vice president now owns 42,771 shares of the company’s stock, valued at approximately $13,259,010. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,448 shares of company stock valued at $2,308,656. Insiders own 0.22% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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