Costco Wholesale Corporation $COST Stake Lifted by Global Wealth Management Investment Advisory Inc.

Key Points

• Global Wealth Management Investment Advisory increased its Costco stake by 20.3% in the third quarter, adding 1,056 shares to hold 6,251 shares valued at $5.69 million.
• Costco’s latest quarterly results beat expectations: EPS was $6.75 versus $6.54 forecast, while revenue rose 11.1% year over year to $95.72 billion. October digital sales also climbed 22.5%.
• Analysts give Costco a consensus “Moderate Buy” rating, with an average price target of $1,090.55; the company’s quarterly dividend is $1.47 per share.

Global Wealth Management Investment Advisory Inc. grew its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,251 shares of the retailer's stock after buying an additional 1,056 shares during the period. Global Wealth Management Investment Advisory Inc.'s holdings in Costco Wholesale were worth $5,690,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer's stock worth $22,359,224,000 after buying an additional 5,749,362 shares during the last quarter. Bank of America Corp DE lifted its stake in Costco Wholesale by 11.5% in the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer's stock valued at $7,488,203,000 after buying an additional 773,651 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Costco Wholesale by 5.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer's stock valued at $2,870,314,000 after buying an additional 160,893 shares during the last quarter. Amundi lifted its stake in Costco Wholesale by 11.1% in the first quarter. Amundi now owns 2,839,016 shares of the retailer's stock valued at $2,828,881,000 after buying an additional 283,360 shares during the last quarter. Finally, Ascentis Wealth Management LLC lifted its stake in Costco Wholesale by 103,637.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer's stock valued at $2,549,616,000 after buying an additional 2,497,652 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale News Roundup

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

• Positive Sentiment: Costco’s digital sales rose 22.5% in October, outpacing store comparable sales. Delivery partnerships, personalization and stronger online engagement are helping the company capture changing shopping habits, which could support sales growth. Costco's Digital Sales Outpace Store Comps as Shopping Evolves
• Neutral Sentiment: Costco closed a California warehouse after 37 years and opened a replacement location about a mile away. The new site is 152,000 square feet; this appears to be a relocation rather than a meaningful reduction in the company’s local presence. Costco closes popular California store location after 37 years
• Neutral Sentiment: An article about Costco’s new Medicare Advantage plan highlights a potential consumer trade-off: a member who later wants Medigap coverage may face health questions or be denied after a 12-month trial right ends. The report focuses on enrollment considerations and does not quantify a financial effect for Costco. Medicare Advantage plan and Medigap considerations

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COST. Oppenheimer restated an "outperform" rating and set a $1,160.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, October 9th. CICC Research initiated coverage on shares of Costco Wholesale in a research report on Wednesday, October 21st. They issued an "outperform" rating and a $1,050.00 price target for the company. Robert W. Baird set a $1,175.00 price target on shares of Costco Wholesale in a research note on Friday, September 25th. Finally, Mizuho lowered their price objective on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and an average target price of $1,090.55.

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the sale, the executive vice president directly owned 3,094 shares of the company's stock, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president owned 7,134 shares of the company's stock, valued at $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Shares of COST opened at $1,066.18 on Tuesday. The stock's 50 day moving average is $954.83 and its two-hundred day moving average is $972.91. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,096.50. The firm has a market capitalization of $472.46 billion, a PE ratio of 51.36, a P/E/G ratio of 4.47 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion during the quarter, compared to analysts' expectations of $94.97 billion. During the same quarter in the prior year, the business posted $5.87 earnings per share. Costco Wholesale's revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $1.47 dividend. The ex-dividend date is Friday, October 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is currently 28.32%.

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line.

The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.

Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.

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