Bessemer Group Inc. Increases Stake in Costco Wholesale Corporation $COST

Key Points

• Bessemer Group Inc. boosted its Costco stake by 12.8% in the first quarter, buying 76,209 additional shares and bringing its holding to 669,797 shares valued at about $667.4 million.
• Analyst sentiment remains broadly positive, with 22 Buy ratings, 12 Hold ratings, and 1 Sell rating; Wall Street’s average target price is $1,059.07.
• Costco also announced a quarterly dividend of $1.47 per share, payable August 7 to shareholders of record on July 24, representing a 0.6% annualized yield.

Bessemer Group Inc. increased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,797 shares of the retailer's stock after buying an additional 76,209 shares during the period. Costco Wholesale accounts for 1.0% of Bessemer Group Inc.'s portfolio, making the stock its 15th largest position. Bessemer Group Inc. owned approximately 0.15% of Costco Wholesale worth $667,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of COST. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $27,000. Lifetime Wealth Management P.C. purchased a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $28,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $28,000. Entrust Financial LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $31,000. Finally, Joseph Group Capital Management purchased a new stake in Costco Wholesale in the fourth quarter worth $33,000. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kenneth D. Denman sold 885 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the transaction, the director owned 4,779 shares in the company, valued at approximately $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Costco Wholesale from $1,110.00 to $1,100.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. BTIG Research restated a "buy" rating and set a $1,125.00 target price on shares of Costco Wholesale in a report on Friday, May 29th. Bank of America upped their target price 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Sanford C. Bernstein boosted their price objective on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,059.07.

Costco Wholesale News Summary

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

• Positive Sentiment: Costco is set to go ex-dividend on Friday, July 24, with the payout scheduled for August 7, which may be supporting near-term interest from income-focused investors. 2 Well-Known Stocks Are Ready to Pay You Dividends – But You Must Act Before July 24
• Positive Sentiment: New articles highlighted Costco’s strong long-term performance and continued consumer demand, reinforcing the view that the retailer remains a high-quality defensive name. Verizon to Lay Off 3,000 Workers as Part of Broader Restructuring
• Neutral Sentiment: One report said Costco’s June sales growth slowed, but also noted resilient demand, digital gains, and rising estimates; the takeaway was mixed rather than clearly negative. Is Costco Stock Still a Buy After Its June Sales Update?
• Neutral Sentiment: Another article argued Costco still looks expensive after its big multi-year run, which keeps valuation concerns in focus for investors. Costco (COST) Stock Still Looks Overvalued As Its 133% Run Draws Scrutiny
• Neutral Sentiment: Several other stories were broadly informational, including dividend math, comparisons with Walmart, warehouse expansion chatter, and consumer-product placement at Costco, but they do not appear to be major stock drivers on their own. Here's How Many Shares of Costco Stock You'd Need for $1,000 in Yearly Dividends

Costco Wholesale Trading Up 3.2%

NASDAQ COST opened at $945.57 on Friday. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50. The stock has a market cap of $419.34 billion, a P/E ratio of 47.56, a P/E/G ratio of 4.44 and a beta of 0.88. The stock's fifty day moving average price is $977.09 and its 200-day moving average price is $977.80. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The company had revenue of $70.53 billion during the quarter, compared to analysts' expectations of $70.12 billion. During the same period in the prior year, the firm earned $4.28 EPS. As a group, equities analysts forecast that Costco Wholesale Corporation will post 20.38 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

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.

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.