Global Wealth Management Investment Advisory Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 20.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,251 shares of the retailer’s stock after acquiring an additional 1,056 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Costco Wholesale were worth $5,690,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $22,359,224,000 after purchasing an additional 5,749,362 shares in the last quarter. Bank of America Corp DE raised its stake in Costco Wholesale by 11.5% in the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock valued at $7,488,203,000 after purchasing an additional 773,651 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Costco Wholesale by 5.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock valued at $2,870,314,000 after purchasing an additional 160,893 shares during the last quarter. Amundi lifted its holdings in Costco Wholesale by 11.1% in the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after purchasing an additional 283,360 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Costco Wholesale in the 2nd quarter valued at about $2,362,188,000. 68.48% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Price Performance
Shares of NASDAQ:COST opened at $1,066.18 on Tuesday. The company has a market cap of $472.46 billion, a P/E ratio of 51.36, a P/E/G ratio of 4.47 and a beta of 0.85. The business has a fifty day simple moving average of $954.83 and a 200-day simple moving average of $972.91. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11.
Costco Wholesale (NASDAQ:COST – Get Free Report) last released its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same period in the prior year, the business posted $5.87 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.
Costco Wholesale Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 28.32%.
Analyst Ratings Changes
COST has been the topic of several analyst reports. Mizuho decreased their price target on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Truist Financial cut their price objective on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research report on Friday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Roth Capital reissued a “sell” rating and set a $781.00 price objective on shares of Costco Wholesale in a research note on Friday, September 25th. Finally, BTIG Research reissued a “buy” rating and set a $1,125.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.55.
View Our Latest Research Report on COST
Insider Transactions at Costco Wholesale
In related news, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the sale, the executive vice president directly owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the completion of the sale, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.
Key Headlines Impacting Costco Wholesale
Here are the key news stories impacting Costco Wholesale this week:
- Positive Sentiment: Costco’s digital sales rose 22.5% in October, outpacing store comparable sales. Delivery partnerships, personalization and stronger online engagement are helping the company capture changing shopping habits, which could support sales growth. Costco’s Digital Sales Outpace Store Comps as Shopping Evolves
- Neutral Sentiment: Costco closed a California warehouse after 37 years and opened a replacement location about a mile away. The new site is 152,000 square feet; this appears to be a relocation rather than a meaningful reduction in the company’s local presence. Costco closes popular California store location after 37 years
- Neutral Sentiment: An article about Costco’s new Medicare Advantage plan highlights a potential consumer trade-off: a member who later wants Medigap coverage may face health questions or be denied after a 12-month trial right ends. The report focuses on enrollment considerations and does not quantify a financial effect for Costco. Medicare Advantage plan and Medigap considerations
About Costco Wholesale
Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line.
The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.
Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.
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