Fortis Group Advisors LLC Has $3.42 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Fortis Group Advisors LLC more than doubled its position in Costco during the fourth quarter, increasing its stake by 108.1% to 3,635 shares valued at about $3.42 million.
• Institutional interest in Costco remains strong overall, with large asset managers such as Vanguard, Amundi, and Fisher Asset Management also adding to their holdings. About 68.48% of Costco’s stock is now owned by institutions and hedge funds.
• Analysts remain generally bullish on Costco, with the stock carrying a Moderate Buy consensus and a target price of $1,052.60. Recent reports also included higher price targets and a dividend increase to $1.47 per share quarterly.

Fortis Group Advisors LLC boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 108.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,635 shares of the retailer's stock after buying an additional 1,888 shares during the period. Fortis Group Advisors LLC's holdings in Costco Wholesale were worth $3,417,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Costco Wholesale by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 43,620,717 shares of the retailer's stock valued at $37,615,889,000 after purchasing an additional 165,349 shares during the last quarter. Amundi raised its holdings in shares of Costco Wholesale by 45.0% in the third quarter. Amundi now owns 3,176,606 shares of the retailer's stock valued at $2,893,697,000 after purchasing an additional 986,182 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Costco Wholesale by 1.1% in the third quarter. Fisher Asset Management LLC now owns 3,145,241 shares of the retailer's stock valued at $2,911,331,000 after purchasing an additional 34,826 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Costco Wholesale by 8.5% in the third quarter. American Century Companies Inc. now owns 1,619,703 shares of the retailer's stock valued at $1,499,246,000 after purchasing an additional 127,495 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Costco Wholesale by 0.7% in the third quarter. Principal Financial Group Inc. now owns 1,210,837 shares of the retailer's stock valued at $1,120,787,000 after purchasing an additional 8,259 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 730 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1,003.02, for a total value of $732,204.60. Following the transaction, the executive vice president directly owned 6,121 shares in the company, valued at $6,139,485.42. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Costco Wholesale in a report on Friday, February 27th. They issued a "buy" rating and a $1,185.00 price objective on the stock. Weiss Ratings upgraded shares of Costco Wholesale from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Daiwa Securities Group boosted their target price on shares of Costco Wholesale from $917.00 to $975.00 and gave the stock a "neutral" rating in a report on Tuesday, March 10th. Wells Fargo & Company boosted their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Finally, Truist Financial boosted their target price on shares of Costco Wholesale from $926.00 to $977.00 and gave the stock a "hold" rating in a report on Friday, March 6th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,052.60.

Key Costco Wholesale News

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

• Positive Sentiment: UBS raised its price target on Costco to $1,275 from $1,205 and reiterated a buy rating, reinforcing the view that the stock still has upside after its strong rally. Benzinga: Costco Wholesale had its price target raised by UBS Group AG from $1,205.00 to $1,275.00
• Positive Sentiment: Higher gas prices may be driving more traffic to Costco’s warehouse clubs as shoppers seek discounted fuel, which could support membership visits and sales. Benzinga: Higher Gas Prices Have Consumers Visiting Costco, Sam's Club More
• Positive Sentiment: Analysts remain upbeat ahead of Q3, with UBS and other commentators saying Costco should post another strong update despite macro pressures, helped by stable renewal rates and resilient demand. Yahoo Finance: Costco Expected to Deliver Strong Q3 Results Despite Macro Pressures, UBS Says

Costco Wholesale Price Performance

Shares of COST opened at $1,074.01 on Thursday. The company has a market cap of $476.48 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 5.38 and a beta of 0.92. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50. The company's fifty day simple moving average is $1,006.08 and its 200 day simple moving average is $958.67. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Wednesday, March 11th. The retailer reported $4.58 earnings per share for the quarter, topping analysts' consensus estimates of $4.55 by $0.03. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The business had revenue of $69.60 billion for the quarter, compared to the consensus estimate of $68.96 billion. During the same period in the previous year, the company earned $4.02 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Corporation will post 20.33 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $1.47 dividend. This is an increase from Costco Wholesale's previous quarterly dividend of $1.30. This represents a $5.88 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, May 1st. Costco Wholesale's dividend payout ratio is presently 30.58%.

Costco Wholesale Profile

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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