Costco Wholesale Corporation $COST Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors reduced its Costco stake by 0.9%, selling 1,394 shares and retaining 152,950 shares valued at approximately $152.4 million. Institutional investors and hedge funds collectively own 68.48% of Costco.
• Costco reported quarterly revenue of $70.53 billion, exceeding estimates, although earnings of $4.93 per share narrowly missed consensus. The company declared a quarterly dividend of $1.47, equal to an annualized $5.88 payout and a 0.6% yield.
• Analyst sentiment remains favorable, with 22 Buy ratings, 11 Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $1,059.07 versus its reported price of $941.99.

NewEdge Advisors LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 152,950 shares of the retailer's stock after selling 1,394 shares during the period. NewEdge Advisors LLC's holdings in Costco Wholesale were worth $152,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after acquiring an additional 130 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Costco Wholesale by 4.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer's stock worth $3,814,000 after purchasing an additional 165 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in Costco Wholesale by 1.1% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer's stock worth $2,089,000 after purchasing an additional 23 shares during the period. Finally, Schnieders Capital Management LLC. increased its holdings in Costco Wholesale by 2.2% in the 2nd quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer's stock valued at $8,416,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of the firm'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 transaction of $847,343.25. Following the completion of the sale, the director owned 4,779 shares of the company's stock, valued at approximately $4,575,653.55. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $941.99 on Thursday. The firm has a 50-day moving average of $951.60 and a two-hundred day moving average of $982.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The stock has a market cap of $417.75 billion, a P/E ratio of 47.38, a PEG ratio of 4.58 and a beta of 0.87. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate 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 return on equity of 28.04% and a net margin of 3.01%.During the same quarter last year, the firm posted $4.28 EPS. On average, research analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Costco Wholesale's dividend payout ratio is presently 29.58%.

Analyst Upgrades and Downgrades

COST has been the topic of several research reports. BTIG Research reissued a "buy" rating and issued a $1,125.00 price objective on shares of Costco Wholesale in a research report on Friday, May 29th. Truist Financial increased their target price on Costco Wholesale from $977.00 to $1,011.00 and gave the company a "hold" rating in a research note on Friday, May 29th. 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 report on Wednesday, May 20th. Sanford C. Bernstein boosted their price target on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Costco Wholesale from $1,110.00 to $1,100.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,059.07.

More Costco Wholesale News

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

• Positive Sentiment: Costco reported July net sales of $23.12 billion, up 10.7% year over year. Sales for the first 48 weeks rose 10.1% to $273.55 billion, reinforcing the strength of consumer demand and membership-based traffic. Costco Wholesale Corporation Reports July Sales Results
• Positive Sentiment: The company continues expanding its store footprint, with construction underway near Meridian, Idaho and the Kuna border. New warehouses can increase membership, merchandise sales and ancillary revenue over time. Costco construction underway near Kuna border
• Positive Sentiment: Costco’s Kirkland Signature private-label brand remains a competitive advantage, attracting members and supporting customer loyalty. Its strategy is increasingly being viewed as a model by other retailers. Formerly bankrupt department store bets on Costco strategy
• Neutral Sentiment: Low-priced gasoline primarily supports Costco indirectly by attracting shoppers and encouraging memberships rather than generating substantial fuel profits. The strategy may boost traffic but can constrain direct fuel margins. Costco keeps its gas super cheap
• Negative Sentiment: Residents are objecting to a reportedly privately negotiated tax-sharing agreement tied to a proposed Costco and gas station project in an Orange County city. Political opposition or permitting delays could slow the development and add execution risk. Residents oppose Costco tax-sharing agreement

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.

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