Assetmark Inc. Grows Stake in Costco Wholesale Corporation $COST

Key Points

• Assetmark Inc. boosted its stake in Costco by 16.1% in the first quarter, adding 9,153 shares and bringing its total holding to 66,108 shares valued at about $65.9 million.
• Other institutional investors also increased or initiated positions, and hedge funds and institutions now own 68.48% of Costco’s stock, underscoring continued broad investor interest.
• Costco reported quarterly earnings of $4.93 per share, just below estimates, while revenue came in above expectations at $70.53 billion. The company also declared a quarterly dividend of $1.47 per share, payable August 7.

Assetmark Inc. raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,108 shares of the retailer's stock after purchasing an additional 9,153 shares during the period. Assetmark Inc.'s holdings in Costco Wholesale were worth $65,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. NovaPoint Capital LLC lifted its stake in shares of Costco Wholesale by 2.9% during the first quarter. NovaPoint Capital LLC now owns 2,729 shares of the retailer's stock worth $2,719,000 after buying an additional 78 shares during the period. Gould Asset Management LLC CA raised its stake in Costco Wholesale by 1.2% in the 1st quarter. Gould Asset Management LLC CA now owns 1,989 shares of the retailer's stock worth $1,982,000 after acquiring an additional 23 shares during the last quarter. Main Street Group LTD raised its stake in shares of Costco Wholesale by 0.8% in the first quarter. Main Street Group LTD now owns 1,226 shares of the retailer's stock worth $1,221,000 after purchasing an additional 10 shares during the last quarter. Barings LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth about $297,000. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Costco Wholesale by 6.4% during the first quarter. Angeles Wealth Management LLC now owns 10,785 shares of the retailer's stock worth $10,746,000 after purchasing an additional 644 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $940.87 on Friday. The business's 50 day moving average price is $975.73 and its 200 day moving average price is $977.54. The company has a market cap of $417.26 billion, a price-to-earnings ratio of 47.33, a PEG ratio of 4.58 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 1.07. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing analysts' consensus estimates of $4.94 by ($0.01). The business had revenue of $70.53 billion during the quarter, compared to analyst estimates of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same quarter in the prior year, the company posted $4.28 earnings per share. On average, research analysts predict that Costco Wholesale Corporation will post 20.39 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio is presently 29.58%.

Key Stories Impacting Costco Wholesale

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

• Positive Sentiment: Erste Group Bank raised its FY2026 EPS estimate for Costco to $20.52 from $20.49, slightly above the Street consensus of $20.38, suggesting analysts still see modest earnings upside. Earnings forecast boost article
• Positive Sentiment: Costco remains a favorite dividend name, with its next ex-dividend date set for July 24, which may attract income-focused investors ahead of the payout. Dividend article
• Neutral Sentiment: A profile of a longtime Costco cashier who became a millionaire highlights the company’s employee retention and compensation culture, but it is unlikely to materially affect near-term fundamentals. Employee profile article
• Neutral Sentiment: Several local news items about new warehouses, gas stations, and remodels point to ongoing store expansion and reinvestment, but they are not major stock-moving catalysts by themselves.
• Negative Sentiment: MarketBeat said Costco’s June sales showed cooling comparable sales and weak international results, keeping the stock in “neutral” territory despite its premium valuation. Cooling comp sales article
• Negative Sentiment: Additional commentary from Zacks and Yahoo Finance argued Costco shares still look expensive after a strong multi-year run, reinforcing valuation concerns that can weigh on the stock. Valuation debate article

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction dated 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 transaction, the director owned 4,779 shares of the company's stock, valued at $4,575,653.55. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent research reports. Bank of America raised their price target on shares of Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Sanford C. Bernstein upped their price objective on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the company an "outperform" rating in a report on Friday, May 29th. DA Davidson reiterated a "neutral" rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Guggenheim restated a "neutral" rating on shares of Costco Wholesale in a research report on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,059.07.

Costco Wholesale 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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