Fifth Third Bancorp Sells 10,458 Shares of Costco Wholesale Corporation $COST

Key Points

• Fifth Third Bancorp reduced its Costco position by 3.1%, selling 10,458 shares and retaining 327,527 shares valued at approximately $306.4 million. Institutional investors collectively own 68.48% of Costco.
• Wall Street remains broadly positive, with 22 analysts rating Costco a Buy, 11 a Hold and one a Sell. The stock has a consensus rating of “Moderate Buy” and an average price target of $1,059.53.
• Costco reported quarterly revenue of $70.53 billion, exceeding estimates, although earnings per share of $4.93 narrowly missed expectations. The company paid a quarterly dividend of $1.47 per share, equivalent to a 0.6% yield.

Fifth Third Bancorp decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,527 shares of the retailer's stock after selling 10,458 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Costco Wholesale worth $306,392,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Palisade Asset Management LLC grew its holdings in Costco Wholesale by 1.4% during the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer's stock valued at $605,000 after buying an additional 10 shares in the last quarter. Graybill Wealth Management LTD. increased its stake in Costco Wholesale by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer's stock worth $2,754,000 after acquiring an additional 10 shares during the last quarter. Wealth Effects LLC raised its holdings in shares of Costco Wholesale by 1.2% during the 1st quarter. Wealth Effects LLC now owns 874 shares of the retailer's stock worth $871,000 after acquiring an additional 10 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in shares of Costco Wholesale by 1.8% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer's stock worth $549,000 after acquiring an additional 10 shares in the last quarter. Finally, First National Bank of Hutchinson boosted its position in shares of Costco Wholesale by 0.9% during the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer's stock valued at $1,094,000 after acquiring an additional 10 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COST. Mizuho set a $1,100.00 target price on shares of Costco Wholesale in a report on Monday, June 1st. Sanford C. Bernstein lifted their price objective on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. BTIG Research restated a "buy" rating and issued a $1,125.00 target price on shares of Costco Wholesale in a report on Friday, May 29th. Bank of America increased their price target on shares of Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group lifted their price target on Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average target price of $1,059.53.

Insider Buying and Selling at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the sale, the director directly owned 4,779 shares of the company's stock, valued at approximately $4,575,653.55. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company's stock.

Costco Wholesale Price Performance

COST stock opened at $971.40 on Tuesday. The stock has a market cap of $430.80 billion, a PE ratio of 48.86, a P/E/G ratio of 4.51 and a beta of 0.87. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50. The company has a 50-day moving average price of $946.98 and a 200 day moving average price of $980.99. 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 (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts' consensus estimates of $4.94 by ($0.01). The firm had revenue of $70.53 billion during the quarter, compared to analysts' expectations 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 last year, the company earned $4.28 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post 20.42 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

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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