Sumitomo Life Insurance Co. Sells 7,918 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sumitomo Life Insurance Co. reduced its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 61.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,931 shares of the retailer's stock after selling 7,918 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Costco Wholesale were worth $4,518,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COST. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale during the 3rd quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $33,000. FSC Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $41,000. Retirement Wealth Solutions LLC purchased a new stake in Costco Wholesale during the 4th quarter valued at $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Costco Wholesale in the 3rd quarter worth $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.6 %

Shares of Costco Wholesale stock traded up $14.99 on Thursday, reaching $979.01. The company had a trading volume of 1,785,690 shares, compared to its average volume of 1,923,543. The firm's 50-day moving average price is $953.78 and its two-hundred day moving average price is $906.03. Costco Wholesale Co. has a 1 year low of $691.50 and a 1 year high of $1,008.25. The firm has a market cap of $434.58 billion, a price-to-earnings ratio of 57.49, a P/E/G ratio of 5.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.47%. Costco Wholesale's dividend payout ratio (DPR) is presently 27.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. TD Cowen boosted their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, December 13th. Raymond James boosted their target price on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, January 9th. Finally, Loop Capital raised their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,013.59.

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.