EP Wealth Advisors LLC purchased a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 155,825 shares of the retailer's stock, valued at approximately $145,770,000.
A number of other large investors have also made changes to their positions in the stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $28,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $28,000. Lifetime Wealth Management P.C. purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $28,000. Finally, Manning & Napier Advisors LLC lifted its stake in shares of Costco Wholesale by 750.0% during the first quarter. Manning & Napier Advisors LLC now owns 34 shares of the retailer's stock valued at $34,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on COST. TD Cowen reiterated a "buy" rating and issued a $1,175.00 price target on shares of Costco Wholesale in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price objective on 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. Oppenheimer upped their target price on Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Citigroup started coverage on Costco Wholesale in a research report on Thursday, June 18th. They set a "neutral" rating and a $1,020.00 target price on the stock. Finally, Weiss Ratings lowered Costco Wholesale from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average target price of $1,059.53.
View Our Latest Stock Report on Costco Wholesale
Insider Buying and Selling
In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the transaction, the director owned 4,779 shares in the company, valued at $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.
Key Headlines Impacting Costco Wholesale
Here are the key news stories impacting Costco Wholesale this week:
- Positive Sentiment: Strong sales momentum supports the investment case. Costco reported August net sales of $23.70 billion, up 9.9% year over year. Fourth-quarter sales rose 11.3% to $93.9 billion, while fiscal-year sales increased 10.2% to $297.3 billion. Total comparable sales grew 8.4% for the year, and digitally enabled sales jumped 20.9%. Costco Wholesale Corporation Reports August Sales Results
- Positive Sentiment: Analyst sentiment remains favorable. Mizuho reiterated a Buy rating and maintained a $1,100 price target, citing confidence in Costco’s membership-driven growth. Recent analyst targets generally remain above the current trading level, with a reported six-month median target of $1,125. Analyst Reiterates Buy on Costco
- Neutral Sentiment: Calendar effects clouded the monthly comparison. Costco said the later timing of Labor Day reduced August total and comparable sales growth by slightly less than 75 basis points. Underlying performance remained positive, but investors may look for confirmation in the next report.
- Negative Sentiment: Costco Next was abruptly discontinued. The company shut down the online Costco Next marketplace without notice. While the service is unlikely to materially affect near-term financial results, the move could disappoint members and remove a customer-engagement perk. Costco has ended this online service without notice
- Negative Sentiment: Regulatory uncertainty increased. The U.S. Department of Justice expanded an investigation into rising beef prices to include Costco and other major retailers. Potential reputational, legal, or margin-related consequences create an overhang, although no wrongdoing has been established. DOJ expands beef price investigation
- Negative Sentiment: Valuation leaves little room for disappointment. Costco trades at roughly 47 times earnings, with a PEG ratio above 4, and shares remain below their 50-day and 200-day moving averages. Insider activity has also consisted of sales rather than purchases in recent months, adding to investor caution.
Costco Wholesale Price Performance
COST opened at $928.48 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. Costco Wholesale Corporation has a 52-week low of $844.06 and a 52-week high of $1,096.50. The company has a 50 day moving average of $944.65 and a two-hundred day moving average of $978.84. The company has a market cap of $411.76 billion, a P/E ratio of 46.70, a P/E/G ratio of 3.89 and a beta of 0.87.
Costco Wholesale Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, July 24th. Costco Wholesale's dividend payout ratio is currently 29.58%.
Costco Wholesale Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).
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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