Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,274 shares of the retailer’s stock after selling 9,274 shares during the quarter. Costco Wholesale comprises approximately 1.2% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 21st largest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Costco Wholesale were worth $8,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $8,430,000. GAMMA Investing LLC grew its position in Costco Wholesale by 15.0% during the 4th quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Costco Wholesale in the fourth quarter valued at $984,000. Stanich Group LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $214,000. Finally, Everence Capital Management Inc. boosted its stake in shares of Costco Wholesale by 15.4% during the fourth quarter. Everence Capital Management Inc. now owns 11,913 shares of the retailer’s stock worth $10,916,000 after buying an additional 1,590 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $926.04 on Tuesday. The stock has a market capitalization of $410.87 billion, a P/E ratio of 54.38, a P/E/G ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm’s 50-day moving average is $987.58 and its two-hundred day moving average is $945.73.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (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 firm had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.50%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Loop Capital dropped their price target on Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. DA Davidson upped their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Cowen restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

Insiders Place Their Bets

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.