9,867 Costco Wholesale Corporation $COST Shares Purchased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Costco stake 8.8% in the third quarter, adding 9,867 shares to own 122,178 shares valued at about $111.2 million. Institutional investors collectively own 68.48% of the stock.
• Costco reported strong sales momentum: October net sales rose 12.6% year over year to $24.5 billion, while its latest quarterly earnings and revenue also exceeded analyst expectations.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $1,090.55, though some analysts caution that Costco’s elevated valuation could limit upside.

Kestra Advisory Services LLC raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,178 shares of the retailer's stock after buying an additional 9,867 shares during the period. Kestra Advisory Services LLC's holdings in Costco Wholesale were worth $111,223,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer's stock valued at $22,359,224,000 after acquiring an additional 5,749,362 shares during the last quarter. Bank of America Corp DE raised its stake in shares of 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 acquiring an additional 773,651 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 acquiring an additional 160,893 shares in 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 worth $2,828,881,000 after purchasing an additional 283,360 shares during the last quarter. Finally, Ascentis Wealth Management LLC lifted its holdings in Costco Wholesale by 103,637.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer's stock worth $2,549,616,000 after purchasing an additional 2,497,652 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale News Roundup

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

• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an Overweight rating, citing potential upside from the current level. JPMorgan analyst recommendations
• Positive Sentiment: October net sales increased 12.6% year over year to $24.50 billion. U.S. comparable sales also rose 12.6%; Bank of America noted that U.S. comps were up 8.1% after adjusting for gasoline price changes and maintained its Buy rating. The strong sales momentum is a key near-term catalyst. Costco October sales results Bank of America rating and U.S. comparable sales
• Negative Sentiment: Valuation concerns persist after Costco’s rally: some commentary argues the stock’s elevated earnings multiple leaves limited room for disappointment. Citi maintained a Hold rating and $1,020 price target, below the recently quoted share price. Citi rating and price target Costco valuation discussion

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the company's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of the transaction, the executive vice president directly owned 3,094 shares in the company, valued at $2,964,701.74. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Claudine Adamo sold 2,200 shares of the company's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president owned 7,134 shares of the company's stock, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.10% of the company's stock.

Costco Wholesale Trading Up 1.8%

Costco Wholesale stock opened at $1,065.59 on Friday. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. The firm has a market capitalization of $472.19 billion, a PE ratio of 51.33, a PEG ratio of 4.47 and a beta of 0.85. The business's 50-day simple moving average is $950.04 and its 200-day simple moving average is $972.05.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.21. The firm had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.87 EPS. Equities research analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share 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 $1.47 dividend. The ex-dividend date is Friday, October 30th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 28.32%.

Analysts Set New Price Targets

A number of brokerages have issued reports on COST. Tigress Financial upped their target price on Costco Wholesale from $1,065.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Robert W. Baird set a $1,175.00 price target on shares of Costco Wholesale in a research report on Friday, September 25th. CICC Research initiated coverage on shares of Costco Wholesale in a research report on Wednesday, October 21st. They issued an "outperform" rating and a $1,050.00 price target on the stock. Weiss Ratings upgraded shares of Costco Wholesale from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,160.00 price objective on shares of Costco Wholesale in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,090.55.

About Costco Wholesale

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.

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.