Nippon Life Insurance Co. increased its position in shares of Costco Wholesale Corp. (NASDAQ:COST) by 69.8% during the second quarter, Holdings Channel reports. The institutional investor owned 31,397 shares of the retailer’s stock after buying an additional 12,909 shares during the period. Nippon Life Insurance Co.’s holdings in Costco Wholesale Corp. were worth $4,931,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in COST. FCM Investments TX purchased a new position in Costco Wholesale Corp. during the second quarter valued at $133,000. Zions Bancorporation boosted its position in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock valued at $139,000 after buying an additional 417 shares in the last quarter. Signaturefd LLC boosted its position in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock valued at $172,000 after buying an additional 491 shares in the last quarter. Peak Asset Management LLC purchased a new position in Costco Wholesale Corp. during the second quarter valued at $207,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Costco Wholesale Corp. during the first quarter valued at $221,000. Institutional investors and hedge funds own 73.13% of the company’s stock.
Shares of Costco Wholesale Corp. (NASDAQ:COST) traded down 0.73% on Friday, reaching $149.76. The company had a trading volume of 1,843,867 shares. The company’s 50-day moving average is $150.73 and its 200-day moving average is $155.72. Costco Wholesale Corp. has a one year low of $138.57 and a one year high of $169.73. The company has a market capitalization of $65464.14 billion, a PE ratio of 28.10 and a beta of 0.71.
Costco Wholesale Corp. (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.04. The firm had revenue of $35.73 billion for the quarter. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. Equities research analysts predict that Costco Wholesale Corp. will post $5.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. Costco Wholesale Corp.’s payout ratio is currently 33.71%.
Several research firms have recently weighed in on COST. Citigroup Inc. upped their price objective on Costco Wholesale Corp. from $155.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 16th. Zacks Investment Research cut Costco Wholesale Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $179.00 price objective on shares of Costco Wholesale Corp. in a research report on Friday, August 5th. Nomura reaffirmed a “buy” rating and set a $185.00 price objective on shares of Costco Wholesale Corp. in a research report on Thursday, August 25th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $171.00 price target on shares of Costco Wholesale Corp. in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Costco Wholesale Corp. presently has an average rating of “Buy” and an average price target of $172.43.
In other Costco Wholesale Corp. news, insider David S. Petterson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $151.10, for a total transaction of $453,300.00. Following the completion of the sale, the insider now directly owns 25,626 shares in the company, valued at $3,872,088.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard M. Libenson sold 2,385 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $151.00, for a total transaction of $360,135.00. Following the sale, the director now owns 4,449 shares of the company’s stock, valued at $671,799. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.