Sumitomo Life Insurance Co. Lowers Position in Costco Wholesale Co. (COST)

Sumitomo Life Insurance Co. lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,855 shares of the retailer’s stock after selling 806 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Costco Wholesale were worth $3,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale in the 2nd quarter valued at approximately $101,000. Wealthcare Advisory Partners LLC purchased a new stake in Costco Wholesale in the 3rd quarter valued at approximately $102,000. Jacobus Wealth Management Inc. purchased a new stake in Costco Wholesale in the 3rd quarter valued at approximately $103,000. Shamrock Asset Management LLC boosted its holdings in Costco Wholesale by 171.3% in the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after purchasing an additional 418 shares in the last quarter. Finally, Zions Bancorporation boosted its holdings in Costco Wholesale by 148.4% in the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after purchasing an additional 411 shares in the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Co. (NASDAQ COST) opened at $188.12 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98. The stock has a market capitalization of $84,115.13, a P/E ratio of 29.91, a P/E/G ratio of 3.13 and a beta of 0.99. Costco Wholesale Co. has a 12-month low of $150.00 and a 12-month high of $199.88.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. Costco Wholesale’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. analysts predict that Costco Wholesale Co. will post 6.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 annualized dividend and a yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.

A number of equities research analysts have weighed in on the company. Vetr lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $200.28 price objective on the stock. in a report on Monday, January 22nd. BMO Capital Markets set a $223.00 price objective on Costco Wholesale and gave the company a “buy” rating in a report on Wednesday, January 24th. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, December 15th. Susquehanna Bancshares lifted their price objective on Costco Wholesale from $205.00 to $215.00 and gave the company a “positive” rating in a report on Friday, December 15th. Finally, Barclays reiterated a “buy” rating and set a $208.00 price target on shares of Costco Wholesale in a research report on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $190.18.

In other Costco Wholesale news, Director Richard M. Libenson sold 20,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $193.03, for a total value of $3,860,600.00. Following the completion of the transaction, the director now directly owns 3,919 shares in the company, valued at approximately $756,484.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the transaction, the director now owns 8,654 shares of the company’s stock, valued at $1,585,932.04. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock valued at $17,408,817 over the last quarter. 0.58% of the stock is currently owned by insiders.

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Costco Wholesale Company Profile

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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