Varma Mutual Pension Insurance Co Sells 5,786 Shares of Costco Wholesale Co. (NASDAQ:COST)

Varma Mutual Pension Insurance Co lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,214 shares of the retailer’s stock after selling 5,786 shares during the quarter. Costco Wholesale makes up approximately 0.5% of Varma Mutual Pension Insurance Co’s portfolio, making the stock its 26th biggest position. Varma Mutual Pension Insurance Co’s holdings in Costco Wholesale were worth $59,681,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Costco Wholesale in the fourth quarter worth $3,628,694,000. Global Assets Advisory LLC bought a new stake in shares of Costco Wholesale in the 1st quarter valued at about $510,353,000. Assenagon Asset Management S.A. boosted its holdings in Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after acquiring an additional 620,341 shares during the period. Strategic Financial Concepts LLC grew its position in Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after acquiring an additional 618,383 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Costco Wholesale by 3,647.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after purchasing an additional 552,492 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 traded down $9.30 during mid-day trading on Friday, reaching $876.68. 2,074,604 shares of the company’s stock traded hands, compared to its average volume of 1,959,834. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $918.93. The company has a market cap of $388.66 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The stock has a 50 day moving average of $857.45 and a two-hundred day moving average of $800.19. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the business’s 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 transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated 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 approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 over the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $925.00 target price on shares of Costco Wholesale in a report on Friday. Tigress Financial boosted their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Bank of America increased their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial upped their price target on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

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.