Sumitomo Mitsui Financial Group Inc. Sells 11 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sumitomo Mitsui Financial Group Inc. cut its position in Costco Wholesale Co. (NASDAQ:COST) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,465 shares of the retailer’s stock after selling 11 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Costco Wholesale were worth $6,840,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the fourth quarter valued at about $31,000. NewSquare Capital LLC grew its position in shares of Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale during the 4th quarter valued at approximately $33,000. Collier Financial purchased a new position in Costco Wholesale in the 4th quarter worth approximately $35,000. Finally, Barrett & Company Inc. boosted its stake in Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $916.48 on Monday. The stock has a 50 day moving average price of $988.70 and a 200 day moving average price of $948.42. The firm has a market capitalization of $406.63 billion, a P/E ratio of 53.82, a P/E/G ratio of 6.15 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52-week low of $702.00 and a 52-week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The company had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. As a group, sell-side analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.09%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Sanford C. Bernstein reiterated an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Loop Capital cut their price objective on Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Truist Financial lifted their target price on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a report on Friday, March 7th. Finally, Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

Insider Activity at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. The trade was a 11.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,600 shares of company stock worth $5,215,915. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

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.