Costco Wholesale Corporation $COST Stock Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group cut its Costco stake by 17.1% in the third quarter, selling 91,081 shares; it held 440,669 shares worth about $401.4 million afterward.
• Costco beat quarterly earnings and revenue estimates, reporting EPS of $6.75 and revenue of $95.72 billion; revenue rose 11.1% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $1,092.23. Costco also announced a special dividend of $30 per share, payable December 4 to shareholders of record November 24.

Russell Investments Group Ltd. cut its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 440,669 shares of the retailer's stock after selling 91,081 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Costco Wholesale worth $401,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of COST. State Street Corp boosted its position 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 acquiring an additional 5,749,362 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Costco Wholesale by 11.5% during the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer's stock worth $7,488,203,000 after acquiring an additional 773,651 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 purchasing an additional 160,893 shares during the last quarter. Amundi raised its holdings in shares of 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 purchasing an additional 283,360 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $2,362,188,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In related news, 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 value of $2,015,046.00. Following the completion of the sale, the executive vice president directly owned 7,134 shares in the company, valued at approximately $6,534,244.62. This trade represents a 23.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Teresa A. Jones sold 900 shares of the firm's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total transaction of $975,555.00. Following the completion of the sale, the executive vice president owned 5,698 shares of the company's stock, valued at $6,176,347.10. This trade represents a 13.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,200 shares of company stock worth $4,044,632 in the last ninety days. Insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COST. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, November 5th. TD Cowen assumed coverage on shares of Costco Wholesale in a research note on Friday, October 30th. They issued a "strong-buy" rating on the stock. Jefferies Financial Group lowered their price target on shares of Costco Wholesale from $1,130.00 to $1,100.00 in a research note on Friday, September 25th. Roth Capital reissued a "sell" rating and set a $781.00 price target on shares of Costco Wholesale in a research report on Friday, September 25th. Finally, Raymond James Financial reduced their price objective on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an "outperform" rating for the company in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,092.23.

Latest Costco Wholesale News

Here's some of the latest news about COST:

• Positive Sentiment: Costco plans to expand its Hyderabad technology center after reporting a 60% productivity gain from AI, potentially supporting efficiency as the company grows. Article: Costco reveals 60% AI productivity gain in major expansion
• Negative Sentiment: A federal lawsuit alleging misleading discounts presents a potential legal and reputational overhang; the provided report does not detail the allegations or potential exposure. Article: Costco faces federal suit over misleading discounts
• Negative Sentiment: Valuation remains a risk: Freedom Broker downgraded Costco to Hold from Buy, citing the stock’s rich price, while an overbought RSI reading points to possible near-term momentum fatigue. Article: Costco Is Up 18% in a Year. Freedom Broker Says That’s Enough

Costco Wholesale Price Performance

NASDAQ:COST opened at $1,092.21 on Friday. The stock has a market capitalization of $483.99 billion, a PE ratio of 52.61, a P/E/G ratio of 4.81 and a beta of 0.85. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,102.84. The firm has a fifty day simple moving average of $963.50 and a 200 day simple moving average of $974.45. 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 posted its quarterly earnings results 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. The firm had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.87 earnings per share. On average, research analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale's payout ratio is currently 28.32%.

Costco Wholesale 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.

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