Costco Wholesale Corporation $COST Stock Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Costco stake by 56.7% in the third quarter, selling 9,988 shares and retaining 7,638 shares valued at approximately $6.95 million. Institutional investors collectively own 68.48% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating from 34 analysts and an average price target of $1,086.19. Recent ratings included HSBC upgrading the stock to “buy,” while Wells Fargo lowered its target to $950 and maintained an “equal weight” rating.
• Costco reported quarterly earnings of $6.75 per share and revenue of $95.72 billion, exceeding analyst expectations, while revenue grew 11.1% year over year. The company also declared a quarterly dividend of $1.47 per share, representing a 0.6% yield.

Axxcess Wealth Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 56.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,638 shares of the retailer's stock after selling 9,988 shares during the quarter. Axxcess Wealth Management LLC's holdings in Costco Wholesale were worth $6,953,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Contravisory Investment Management Inc. lifted its position in Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer's stock valued at $25,000 after acquiring an additional 14 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Costco Wholesale in the second quarter valued at $28,000. Burk Holdings LLC acquired a new position in Costco Wholesale in the second quarter valued at $30,000. Manning & Napier Advisors LLC purchased a new position in shares of Costco Wholesale during the second quarter worth about $30,000. Finally, Bullseye Investment Management LLC purchased a new position in shares of Costco Wholesale during the second quarter worth about $35,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, October 9th. HSBC raised Costco Wholesale to a "buy" rating in a research report on Friday, September 25th. Robert W. Baird set a $1,175.00 price target on Costco Wholesale in a research note on Friday, September 25th. 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. Finally, Evercore reaffirmed an "outperform" rating on shares of Costco Wholesale in a research report on Tuesday, September 22nd. Twenty-five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,086.19.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Claudine Adamo sold 2,200 shares of the business'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 directly owned 7,134 shares in the company, valued at $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William Richard Wilcox sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the transaction, the executive vice president owned 3,094 shares in the company, valued at $2,964,701.74. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Key Costco Wholesale News

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

• Positive Sentiment: Analyst optimism: Tigress Financial raised its price target to $1,250, while CICC initiated coverage with an “outperform” rating. These actions reinforce the bullish view that Costco’s membership income, sales growth and customer loyalty can support further gains. Tigress Financial raises target for Costco Wholesale stock
• Positive Sentiment: Long-term performance and growth potential: A retrospective analysis said $1,000 invested in Costco 10 years ago would have grown to $8,018, substantially outperforming the S&P 500. Another report highlighted potential upside surprises, including continued membership growth and resilient consumer demand. Costco Turned $1,000 Into $8,018
• Positive Sentiment: Potential stock split: Costco’s CEO said a stock split is regularly discussed by the board. No split was announced, but speculation could improve accessibility for employees and smaller investors following the stock’s strong appreciation. Costco's Last Stock Split Was in 2000
• Neutral Sentiment: Valuation remains a concern: Costco trades at the highest earnings multiple among several major retailers, despite having a relatively low operating margin. Its premium valuation leaves less room for disappointment if growth or membership trends slow. Are You Overpaying For Costco Stock Versus Its Rivals?
• Negative Sentiment: Competitive pressure is increasing: Kroger plans to spend $5 billion on lower prices and technology after acknowledging market-share losses to Walmart and Costco. More aggressive grocery pricing could pressure Costco’s traffic, margins or competitive advantage. Kroger Is Spending $5 Billion to Cut Prices

Costco Wholesale Stock Performance

Shares of COST stock opened at $1,018.21 on Friday. The stock's 50-day moving average price is $937.12 and its 200 day moving average price is $962.93. 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 stock has a market capitalization of $451.20 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 4.27 and a beta of 0.88. 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 released its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 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 business 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 earned $5.87 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, October 30th. Costco Wholesale's dividend payout ratio (DPR) is 28.32%.

Costco Wholesale Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.

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