Costco Wholesale Corporation $COST Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners reduced its Costco stake by 14.3% in the first quarter, selling 21,895 shares and leaving it with 131,518 shares worth about $131.0 million.
• Wall Street remains broadly positive on Costco, with a Moderate Buy consensus rating and an average price target of $1,059.07 despite some mixed individual analyst calls.
• Costco reported quarterly earnings of $4.93 per share, just below expectations, while revenue of $70.53 billion topped estimates; the company also announced a quarterly dividend of $1.47 per share.

Epoch Investment Partners Inc. cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,518 shares of the retailer's stock after selling 21,895 shares during the period. Epoch Investment Partners Inc.'s holdings in Costco Wholesale were worth $131,048,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Palisade Asset Management LLC increased its holdings in shares of Costco Wholesale by 1.4% during the fourth quarter. Palisade Asset Management LLC now owns 702 shares of the retailer's stock valued at $605,000 after purchasing an additional 10 shares during the period. Graybill Wealth Management LTD. grew its position 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 buying an additional 10 shares in the last quarter. Wealth Effects LLC grew its position 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 buying an additional 10 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Costco Wholesale by 1.8% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer's stock valued at $549,000 after buying an additional 10 shares during the period. Finally, First National Bank of Hutchinson raised its position 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 buying an additional 10 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on Costco Wholesale from $977.00 to $1,011.00 and gave the stock a "hold" rating in a report on Friday, May 29th. Weiss Ratings cut Costco Wholesale from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 9th. Guggenheim restated a "neutral" rating on shares of Costco Wholesale in a report on Monday, June 1st. Finally, UBS Group raised their target price on Costco Wholesale from $1,205.00 to $1,275.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average target price of $1,059.07.

Insiders Place Their Bets

In related news, Director Kenneth D. Denman sold 885 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the transaction, the director directly owned 4,779 shares of the company's stock, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company's stock.

Costco Wholesale Stock Up 1.0%

Shares of NASDAQ:COST opened at $935.03 on Friday. The firm has a 50 day simple moving average of $965.91 and a 200 day simple moving average of $979.93. 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 0.17, a quick ratio of 0.61 and a current ratio of 1.07. The company has a market cap of $414.67 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 4.48 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing the consensus estimate of $4.94 by ($0.01). The firm had revenue of $70.53 billion for the quarter, compared to analysts' expectations of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same quarter in the previous year, the firm posted $4.28 earnings per share. As a group, research analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Key Headlines Impacting Costco Wholesale

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

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation NASDAQ: COST Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

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.

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