Tokio Marine Asset Management Co. Ltd. Has $1,637,000 Stake in Costco Wholesale Corporation (COST)

Tokio Marine Asset Management Co. Ltd. Has $1,637,000 Stake in Costco Wholesale Corporation (COST)

Tokio Marine Asset Management Co. Ltd. cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,733 shares of the retailer’s stock after selling 1,319 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Costco Wholesale Corporation were worth $1,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COST. Scott & Selber Inc. bought a new stake in Costco Wholesale Corporation during the second quarter valued at $3,172,000. Manitou Investment Management Ltd. bought a new stake in Costco Wholesale Corporation during the second quarter valued at $7,114,000. Nicolet Bankshares Inc. boosted its stake in Costco Wholesale Corporation by 18.5% in the second quarter. Nicolet Bankshares Inc. now owns 3,842 shares of the retailer’s stock valued at $603,000 after buying an additional 600 shares during the period. Concert Wealth Management Inc. boosted its stake in Costco Wholesale Corporation by 31.3% in the second quarter. Concert Wealth Management Inc. now owns 30,291 shares of the retailer’s stock valued at $4,752,000 after buying an additional 7,219 shares during the period. Finally, Cypress Capital Management LLC WY bought a new stake in Costco Wholesale Corporation during the second quarter valued at $436,000. 72.59% of the stock is currently owned by institutional investors.

Costco Wholesale Corporation (NASDAQ:COST) opened at 162.06 on Friday. The firm has a 50-day moving average price of $161.95 and a 200 day moving average price of $157.71. The company has a market capitalization of $71.18 billion, a P/E ratio of 29.57 and a beta of 0.85. Costco Wholesale Corporation has a 1-year low of $138.57 and a 1-year high of $169.59.

Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, December 7th. The retailer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The company earned $28.10 billion during the quarter, compared to analysts’ expectations of $28.30 billion. Costco Wholesale Corporation had a return on equity of 20.06% and a net margin of 2.02%. Costco Wholesale Corporation’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post $5.89 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.11%. Costco Wholesale Corporation’s dividend payout ratio is currently 32.79%.

Several analysts recently weighed in on the stock. Nomura set a $185.00 price target on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Saturday, October 1st. Cowen and Company set a $170.00 price target on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Sunday, October 2nd. BMO Capital Markets set a $180.00 price target on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, October 20th. RBC Capital Markets lifted their price target on shares of Costco Wholesale Corporation from $176.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, December 8th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $185.00 price target (up previously from $175.00) on shares of Costco Wholesale Corporation in a report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $173.96.

In other news, VP Richard A. Galanti sold 1,930 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $143.53, for a total value of $277,012.90. Following the completion of the sale, the vice president now directly owns 36,650 shares in the company, valued at $5,260,374.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David S. Petterson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $158.55, for a total value of $634,200.00. Following the completion of the sale, the insider now owns 21,626 shares of the company’s stock, valued at $3,428,802.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,385 shares of company stock valued at $7,539,484. 0.74% of the stock is owned by company insiders.

About Costco Wholesale Corporation

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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