Everest Financial Group LLC Purchases 1,455 Shares of Costco Wholesale Corporation $COST

Key Points

• Everest Financial Group LLC increased its Costco stake by 283.6% in the first quarter, buying 1,455 additional shares and bringing its total holding to 1,968 shares worth about $1.96 million.
• Insider selling was also noted, as Director Kenneth D. Denman sold 885 shares on June 23 for about $847,343, reducing his position by 15.62%.
• Costco’s fundamentals and outlook remain solid: the company recently reported revenue above estimates, announced a $1.47 quarterly dividend, and continues to hold a “Moderate Buy” consensus rating from analysts.

Everest Financial Group LLC raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 283.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,968 shares of the retailer's stock after buying an additional 1,455 shares during the quarter. Everest Financial Group LLC's holdings in Costco Wholesale were worth $1,961,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COST. World Investment Advisors lifted its holdings in shares of Costco Wholesale by 8.4% during the fourth quarter. World Investment Advisors now owns 20,081 shares of the retailer's stock valued at $15,835,000 after purchasing an additional 1,560 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Costco Wholesale by 24.5% in the 4th quarter. Teacher Retirement System of Texas now owns 140,429 shares of the retailer's stock worth $121,098,000 after buying an additional 27,625 shares during the last quarter. Curtis Advisory Group LLC grew its stake in shares of Costco Wholesale by 56.7% in the 4th quarter. Curtis Advisory Group LLC now owns 4,535 shares of the retailer's stock worth $3,911,000 after buying an additional 1,641 shares during the last quarter. Perryman Financial Advisory Inc. AD bought a new position in Costco Wholesale during the 4th quarter valued at approximately $9,300,000. Finally, Oak Ridge Investments LLC increased its position in Costco Wholesale by 7.3% during the 4th quarter. Oak Ridge Investments LLC now owns 22,117 shares of the retailer's stock valued at $19,072,000 after buying an additional 1,496 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director owned 4,779 shares of the company's stock, valued at $4,575,653.55. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.10% of the company's stock.

Costco Wholesale Stock Performance

COST stock opened at $935.03 on Friday. The stock's 50 day simple moving average is $965.91 and its 200 day simple moving average is $979.93. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,096.50. The stock has a market capitalization of $414.67 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 4.52 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing analysts' consensus estimates of $4.94 by ($0.01). The business had revenue of $70.53 billion during the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same period in the previous year, the business posted $4.28 EPS. As a group, research analysts forecast that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's payout ratio is 29.58%.

Costco Wholesale News Summary

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

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation NASDAQ: COST Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Wall Street Analysts Forecast Growth

Several research firms have commented on COST. Sanford C. Bernstein boosted their target price on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. The Goldman Sachs Group raised their price target on Costco Wholesale from $1,088.00 to $1,159.00 and gave the company a "buy" rating in a report on Friday, May 29th. Citigroup assumed coverage on Costco Wholesale in a report on Thursday, June 18th. They set a "neutral" rating and a $1,020.00 price target for the company. BTIG Research reaffirmed a "buy" rating and issued a $1,125.00 price target on shares of Costco Wholesale in a research report on Friday, May 29th. Finally, UBS Group upped their price target on shares of Costco Wholesale from $1,205.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Twenty-two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,059.07.

About Costco Wholesale

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.

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