Costco Wholesale Corporation $COST Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its Costco stake by 3.6% in the first quarter, selling 126,717 shares and leaving it with 3,391,624 shares valued at about $3.38 billion.
• Wall Street remains largely positive on Costco: several analysts raised price targets, and the stock currently has a Moderate Buy consensus with a target price of $1,059.07.
• Costco reported quarterly earnings of $4.93 per share, just below expectations, while revenue came in slightly above estimates at $70.53 billion; the company also announced a quarterly dividend of $1.47 per share.

Bank of New York Mellon Corp trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,391,624 shares of the retailer's stock after selling 126,717 shares during the period. Costco Wholesale accounts for about 0.6% of Bank of New York Mellon Corp's investment portfolio, making the stock its 22nd largest position. Bank of New York Mellon Corp owned about 0.76% of Costco Wholesale worth $3,379,516,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Palisade Asset Management LLC increased its position in Costco Wholesale by 1.4% during the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer's stock worth $605,000 after purchasing an additional 10 shares in the last quarter. Graybill Wealth Management LTD. raised its stake in Costco Wholesale by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer's stock valued at $2,754,000 after purchasing an additional 10 shares during the last quarter. Wealth Effects LLC lifted its holdings in Costco Wholesale by 1.2% in the 1st quarter. Wealth Effects LLC now owns 874 shares of the retailer's stock valued at $871,000 after purchasing an additional 10 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Costco Wholesale by 1.8% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer's stock valued at $549,000 after purchasing an additional 10 shares in the last quarter. Finally, First National Bank of Hutchinson boosted its stake in shares of Costco Wholesale by 0.9% during the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer's stock worth $1,094,000 after purchasing an additional 10 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Roth Capital 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 report on Friday, May 29th. Mizuho set a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, June 1st. HC Wainwright reiterated a "buy" rating on shares of Costco Wholesale in a report on Monday, June 1st. Finally, UBS Group increased their price target on Costco Wholesale from $1,205.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,059.07.

Costco Wholesale Stock Down 0.6%

NASDAQ COST opened at $916.54 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The business has a 50 day moving average price of $978.42 and a two-hundred day moving average price of $977.29. The stock has a market cap of $406.47 billion, a PE ratio of 46.10, a P/E/G ratio of 4.46 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing analysts' consensus estimates of $4.94 by ($0.01). The firm 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 previous year, the firm posted $4.28 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Corporation will post 20.38 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares of the company's stock, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company's stock.

Key Costco Wholesale News

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

• Positive Sentiment: Costco’s launch of Borealis Foods’ Chef Woo high-protein noodles is drawing strong early member demand, highlighting Costco’s ability to quickly scale trending, health-oriented products and support traffic in its warehouses. Borealis Foods Expands Access to Protein-Rich Chef Woo Noodles Through Costco
• Positive Sentiment: Another report says Costco will open seven new warehouse locations in August, reinforcing the company’s steady expansion strategy and long-term membership growth potential. Costco announces 7 new warehouse locations to open in August
• Positive Sentiment: Royal Bank of Canada initiated coverage with a $1,000 price target, signaling Wall Street still sees upside from current levels despite recent weakness. Costco Wholesale is now covered by Royal Bank Of Canada
• Neutral Sentiment: Several commentary pieces focused on Costco’s dividend, valuation, and reputation as a defensive retailer; these are supportive of the investment case, but they do not appear to be immediate stock-moving catalysts. Here's How Many Shares of Costco Stock You'd Need for $1,000 in Yearly Dividends
• Neutral Sentiment: Other articles praised Costco’s resilience in uncertain consumer conditions and its success in international markets, but these were mainly background/analyst commentary rather than new fundamental developments. Casey’s, Costco, and Other Consumer Stocks for Uncertain Times
• Negative Sentiment: Some coverage noted Costco’s stock has been weak recently and that investors are questioning whether the dip is a buying opportunity, which can keep sentiment cautious in the near term. Costco Stock: Buy the Dip?

About Costco Wholesale

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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