Meiji Yasuda Asset Management Co Ltd. Sells 1,882 Shares of Costco Wholesale Corporation $COST

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,447 shares of the retailer’s stock after selling 1,882 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Costco Wholesale were worth $9,881,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Corps Capital Advisors LLC grew its holdings in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 10 shares during the period. Covestor Ltd grew its stake in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after buying an additional 10 shares during the last quarter. Rooted Wealth Advisors Inc. grew its stake in Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock worth $404,000 after purchasing an additional 11 shares in the last quarter. Bank & Trust Co boosted its position in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. Finally, Amplius Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock valued at $819,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In related news, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,147 shares of company stock worth $5,031,130. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 0.8%

Shares of NASDAQ COST opened at $963.48 on Monday. The firm has a market cap of $427.28 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The firm’s 50 day moving average price is $962.23 and its 200 day moving average price is $976.69. 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 quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale’s payout ratio is currently 29.50%.

Wall Street Analyst Weigh In

COST has been the subject of a number of research analyst reports. Loop Capital reduced their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Evercore ISI lowered their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Truist Financial lifted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,050.00.

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.