3,047 Shares in Costco Wholesale Corporation $COST Acquired by Westpac Banking Corp

Key Points

• Westpac Banking Corp acquired 3,047 Costco shares worth approximately $2.85 million in the second quarter. Institutional investors collectively own 68.48% of Costco’s stock.
• Costco shares opened at $928.48, with the stock trading at roughly 46.7 times earnings and offering a $1.47 quarterly dividend, equivalent to a 0.6% yield.
• Analyst sentiment remains favorable, with 22 Buy ratings, 11 Holds and one Sell rating; the average price target is $1,059.53, implying upside from the reported trading level.

Westpac Banking Corp purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,047 shares of the retailer's stock, valued at approximately $2,850,000.

Several other institutional investors have also recently bought and sold shares of COST. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Costco Wholesale during the fourth quarter worth $27,000. Lifetime Wealth Management P.C. bought a new position in shares of Costco Wholesale in the fourth quarter valued at about $28,000. C M Bidwell & Associates Ltd. bought a new position in shares of Costco Wholesale in the second quarter valued at about $28,000. Mcguire Capital Advisors Inc. acquired a new position in Costco Wholesale during the 4th quarter worth about $28,000. Finally, Entrust Financial LLC acquired a new position in Costco Wholesale during the 4th quarter worth about $31,000. Institutional investors own 68.48% of the company's stock.

Insider Activity

In other news, Director Kenneth D. Denman sold 885 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the sale, the director owned 4,779 shares in the company, valued at $4,575,653.55. The trade was a 15.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.10% of the company's stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $928.48 on Thursday. The stock has a 50-day moving average price of $944.65 and a 200 day moving average price of $978.84. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a market cap of $411.76 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 3.89 and a beta of 0.87. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, July 24th. Costco Wholesale's dividend payout ratio (DPR) is 29.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Citigroup began coverage on shares of Costco Wholesale in a research report on Thursday, June 18th. They set a "neutral" rating and a $1,020.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Costco Wholesale from $1,110.00 to $1,100.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Mizuho set a $1,100.00 price target on shares of Costco Wholesale in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,120.00 price target on shares of Costco Wholesale in a report on Thursday, August 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and an average target price of $1,059.53.

Key Costco Wholesale News

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Strong sales momentum supports the investment case. Costco reported August net sales of $23.70 billion, up 9.9% year over year. Fourth-quarter sales rose 11.3% to $93.9 billion, while fiscal-year sales increased 10.2% to $297.3 billion. Total comparable sales grew 8.4% for the year, and digitally enabled sales jumped 20.9%. Costco Wholesale Corporation Reports August Sales Results
• Positive Sentiment: Analyst sentiment remains favorable. Mizuho reiterated a Buy rating and maintained a $1,100 price target, citing confidence in Costco’s membership-driven growth. Recent analyst targets generally remain above the current trading level, with a reported six-month median target of $1,125. Analyst Reiterates Buy on Costco
• Neutral Sentiment: Calendar effects clouded the monthly comparison. Costco said the later timing of Labor Day reduced August total and comparable sales growth by slightly less than 75 basis points. Underlying performance remained positive, but investors may look for confirmation in the next report.
• Negative Sentiment: Costco Next was abruptly discontinued. The company shut down the online Costco Next marketplace without notice. While the service is unlikely to materially affect near-term financial results, the move could disappoint members and remove a customer-engagement perk. Costco has ended this online service without notice
• Negative Sentiment: Regulatory uncertainty increased. The U.S. Department of Justice expanded an investigation into rising beef prices to include Costco and other major retailers. Potential reputational, legal, or margin-related consequences create an overhang, although no wrongdoing has been established. DOJ expands beef price investigation
• Negative Sentiment: Valuation leaves little room for disappointment. Costco trades at roughly 47 times earnings, with a PEG ratio above 4, and shares remain below their 50-day and 200-day moving averages. Insider activity has also consisted of sales rather than purchases in recent months, adding to investor caution.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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