Varma Mutual Pension Insurance Co Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Varma Mutual Pension Insurance Co lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 7.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 70,214 shares of the retailer’s stock after selling 5,786 shares during the quarter. Costco Wholesale accounts for 0.5% of Varma Mutual Pension Insurance Co’s investment portfolio, making the stock its 26th biggest holding. Varma Mutual Pension Insurance Co’s holdings in Costco Wholesale were worth $59,681,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $32,000. Financial Connections Group Inc. raised its stake in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the last quarter. Vima LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $34,000. Finally, DSM Capital Partners LLC purchased a new stake in Costco Wholesale during the 4th quarter valued at about $36,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Robert W. Baird raised their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Truist Financial lifted their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $828.73.

Insider Activity at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST traded down $9.30 during midday trading on Friday, reaching $876.68. The stock had a trading volume of 2,074,604 shares, compared to its average volume of 1,959,834. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $388.66 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80. The firm has a fifty day simple moving average of $857.45 and a two-hundred day simple moving average of $800.19. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $918.93.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Costco Wholesale 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.