Costco Wholesale Corporation $COST Stock: Allspring Global Investments Holdings LLC Increases Position

Key Points

• Allspring Global Investments increased its Costco stake by 12.3% in the third quarter, adding 22,802 shares to hold 207,802 shares valued at about $190.1 million. Institutional investors collectively own 68.48% of Costco stock.
• Costco reported October net sales of $24.50 billion, up 12.6% year over year, with U.S. comparable sales rising 8.1% excluding gasoline-price changes. Its latest quarterly earnings and revenue also beat analyst estimates.
• Analyst views are broadly positive, with a MarketBeat average rating of “Moderate Buy” and an average price target of $1,090.55, but Costco’s valuation is a concern: its reported P/E is about 50.75, and some analysts have lowered targets or maintained cautious ratings.

Allspring Global Investments Holdings LLC boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,802 shares of the retailer's stock after buying an additional 22,802 shares during the period. Allspring Global Investments Holdings LLC's holdings in Costco Wholesale were worth $190,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Griffith & Werner Inc. lifted its stake in shares of Costco Wholesale by 7.1% during the third quarter. Griffith & Werner Inc. now owns 527 shares of the retailer's stock worth $480,000 after buying an additional 35 shares during the period. StoneRidge PMG Advisors LLC purchased a new stake in shares of Costco Wholesale during the third quarter valued at $839,000. Beverly Hills Private Wealth LLC increased its position in shares of Costco Wholesale by 2.0% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 726 shares of the retailer's stock valued at $661,000 after acquiring an additional 14 shares during the period. RHL Group LLC increased its position in shares of Costco Wholesale by 24.2% in the 3rd quarter. RHL Group LLC now owns 113 shares of the retailer's stock valued at $103,000 after acquiring an additional 22 shares during the period. Finally, Avion Wealth increased its position in shares of Costco Wholesale by 27.8% in the 3rd quarter. Avion Wealth now owns 271 shares of the retailer's stock valued at $246,000 after acquiring an additional 59 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale News Summary

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

• Positive Sentiment: Costco reported October net sales of $24.50 billion, up 12.6% year over year. U.S. comparable sales rose 8.1% excluding gasoline-price changes, while digital growth also accelerated—evidence of continued customer demand. Costco's October Net Sales Jump 12.6% as Digital Growth Accelerates
• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an overweight rating. Bank of America also kept its buy rating following the stronger U.S. comparable-sales results. JPMorgan price-target update Costco retains BofA buy as October U.S. comps rise
• Neutral Sentiment: Recent coverage points to solid share-price momentum, supported by a string of earnings beats, but investors may be watching whether earnings growth can justify the stock’s valuation. Costco Stock: Earnings Growth Could Shape the Next Big Move
• Negative Sentiment: Valuation remains a key risk: reports cite a trailing P/E near 49, leaving limited room for disappointment, while earnings revisions have raised concerns. Citi maintained a hold rating with a $1,020 target, reflecting a more cautious view than JPMorgan’s. Costco Stock: Why Analysts Are Split Despite Strong October Sales

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COST shares. Bank of America reduced their target price on Costco Wholesale from $1,200.00 to $1,095.00 and set a "buy" rating for the company in a research note on Wednesday, September 16th. Wells Fargo & Company dropped their price target on Costco Wholesale from $1,000.00 to $950.00 and set an "equal weight" rating on the stock in a research note on Friday, September 25th. Mizuho cut their price objective on Costco Wholesale from $1,100.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Friday, September 25th. Weiss Ratings lowered Costco Wholesale from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, Robert W. Baird set a $1,175.00 price objective on Costco Wholesale in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average price target of $1,090.55.

Insider Activity at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 3,094 shares in the company, valued at $2,964,701.74. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claudine Adamo sold 2,200 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president owned 7,134 shares of the company's stock, valued at approximately $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by insiders.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $1,053.56 on Monday. The business's 50-day moving average price is $952.42 and its 200 day moving average price is $972.49. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The firm has a market cap of $466.86 billion, a price-to-earnings ratio of 50.75, a price-to-earnings-growth ratio of 4.66 and a beta of 0.84. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The company had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. During the same period in the previous year, the company posted $5.87 earnings per share. Costco Wholesale's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend 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 (DPR) is presently 28.32%.

Costco Wholesale Company Profile

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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