Drake & Associates LLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 17.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,489 shares of the retailer’s stock after selling 734 shares during the quarter. Costco Wholesale comprises 0.6% of Drake & Associates LLC’s investment portfolio, making the stock its 20th largest holding. Drake & Associates LLC’s holdings in Costco Wholesale were worth $3,008,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in COST. Brighton Jones LLC raised its stake in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after purchasing an additional 130 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Costco Wholesale by 4.5% in the second quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer’s stock valued at $3,814,000 after purchasing an additional 165 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Costco Wholesale by 1.1% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer’s stock valued at $2,089,000 after purchasing an additional 23 shares during the period. Finally, Schnieders Capital Management LLC. raised its stake in shares of Costco Wholesale by 2.2% during the second quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer’s stock worth $8,416,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.
Key Costco Wholesale News
Here are the key news stories impacting Costco Wholesale this week:
- Positive Sentiment: Costco continues to show strong underlying demand, with May sales growth, high membership renewal rates, and faster-growing digital/e-commerce channels supporting the long-term growth story. How Investors May Respond To Costco (COST) Digital Momentum Amid Valuation Jitters And Macro Uncertainty
- Positive Sentiment: Costco lowered prices on some Kirkland Signature items, reinforcing its value proposition for inflation-conscious shoppers and potentially helping traffic and member loyalty. Why Weakness in Dividend-Paying Costco Stock Is a Strong Buying Opportunity
- Positive Sentiment: A new Costco gas station was approved in a Bay Area city, adding another potential traffic driver and incremental fuel-related sales opportunity. This Bay Area city approves new Costco gas station
- Neutral Sentiment: Citigroup initiated coverage with a neutral rating and a $1,020 price target, which is above the recent trading level but does not signal a strong near-term catalyst. Benzinga coverage of Citigroup initiation
- Negative Sentiment: Analyst commentary is divided, with one report noting that Costco shares fell after Citi and Bernstein issued conflicting views, adding to uncertainty around the stock’s premium valuation. Costco Stock (COST) Drops as Analysts Can’t Agree on the Big-Box Retailer
- Negative Sentiment: Several recent articles focus on whether Costco’s stock is too expensive near the $1,000 level, reflecting valuation jitters that can pressure shares when growth expectations are already high. Costco at $1,000: A Timeless Business, Is the Stock Still a Buy or a Bubble?
Costco Wholesale Stock Down 1.5%
Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The business had revenue of $70.53 billion for the quarter, compared to analyst estimates of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same period in the prior year, the company earned $4.28 EPS. On average, equities analysts anticipate that Costco Wholesale Corporation will post 20.38 earnings per share for the current fiscal year.
Costco Wholesale Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 1st. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.30. Costco Wholesale’s payout ratio is presently 29.58%.
Analysts Set New Price Targets
COST has been the subject of several recent research reports. Mizuho set a $1,100.00 price target on Costco Wholesale in a report on Monday, June 1st. Weiss Ratings raised shares of Costco Wholesale from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Daiwa Securities Group upped their price objective on shares of Costco Wholesale from $917.00 to $975.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Roth Mkm raised their target price on shares of Costco Wholesale from $769.00 to $781.00 and gave the stock a “sell” rating in a research note on Friday, May 29th. Finally, BMO Capital Markets lifted their target price on shares of Costco Wholesale from $1,175.00 to $1,315.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,061.45.
Read Our Latest Stock Analysis on COST
Costco Wholesale Company Profile
Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.
Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.
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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST – Free Report).
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