Harvest Portfolios Group Inc. Buys 20,641 Shares of Costco Wholesale Corporation $COST

Key Points

• Harvest Portfolios Group Inc. increased its stake in Costco by 37.5% in the fourth quarter, buying 20,641 additional shares and bringing its total holding to 75,686 shares worth about $65.3 million.
• Costco reported strong quarterly results, with earnings per share of $4.58 beating estimates and revenue of $69.6 billion topping expectations. Revenue was up 9.2% year over year.
• The company also raised its quarterly dividend to $1.47 per share from $1.30, while Wall Street analysts remain broadly positive with a consensus rating of “Moderate Buy” and a target price of $1,049.27.

Harvest Portfolios Group Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 37.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,686 shares of the retailer's stock after buying an additional 20,641 shares during the period. Costco Wholesale comprises about 1.1% of Harvest Portfolios Group Inc.'s investment portfolio, making the stock its 22nd biggest position. Harvest Portfolios Group Inc.'s holdings in Costco Wholesale were worth $65,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in COST. Hurley Capital LLC raised its holdings in shares of Costco Wholesale by 120.0% during the 3rd quarter. Hurley Capital LLC now owns 33 shares of the retailer's stock valued at $31,000 after buying an additional 18 shares in the last quarter. Entrust Financial LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $31,000. Joseph Group Capital Management purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $33,000. Abich Financial Wealth Management LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at about $34,000. Finally, Collier Financial purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at about $35,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,094.32 on Wednesday. The firm has a market cap of $485.50 billion, a PE ratio of 56.91, a price-to-earnings-growth ratio of 5.30 and a beta of 0.92. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 1.06. The business has a 50 day moving average price of $1,004.71 and a 200-day moving average price of $957.59.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Wednesday, March 11th. The retailer reported $4.58 earnings per share for the quarter, beating analysts' consensus estimates of $4.55 by $0.03. The firm had revenue of $69.60 billion during the quarter, compared to analyst estimates of $68.96 billion. Costco Wholesale had a return on equity of 28.57% and a net margin of 2.99%.The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.02 earnings per share. Equities research analysts predict that Costco Wholesale Corporation will post 20.31 earnings per share for the current year.

Costco Wholesale Increases Dividend

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

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research reports. Gordon Haskett raised their price objective on Costco Wholesale from $1,000.00 to $1,100.00 in a report on Tuesday, February 3rd. TD Cowen reissued a "buy" rating on shares of Costco Wholesale in a report on Friday, March 6th. UBS Group set a $1,175.00 price target on shares of Costco Wholesale in a research note on Friday, March 6th. Truist Financial boosted their price target on shares of Costco Wholesale from $926.00 to $977.00 and gave the stock a "hold" rating in a research note on Friday, March 6th. Finally, Bank of America initiated coverage on shares of Costco Wholesale in a research note on Friday, February 27th. They issued a "buy" rating and a $1,185.00 price target for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,049.27.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Claudine Adamo sold 730 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $1,003.02, for a total transaction of $732,204.60. Following the completion of the sale, the executive vice president owned 6,121 shares of the company's stock, valued at approximately $6,139,485.42. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

Key Stories Impacting Costco Wholesale

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

• Positive Sentiment: Costco raised its quarterly dividend by 13% to $1.47 per share, marking 22 straight years of dividend increases and signaling confidence in cash generation. This helped push shares to new highs. Where Will Costco Stock Be In 2028?
• Positive Sentiment: Analysts turned more constructive ahead of the company’s May 28 earnings report, with Oppenheimer lifting its price target to $1,160 after strong April sales and the dividend hike. Costco (COST) Stock Gains as Analysts Raise Price Targets Before Quarterly Report
• Positive Sentiment: Costco’s April sales reinforced its defensive appeal, with 11.6% comparable sales growth and 18.8% digital sales growth as value-focused shoppers kept buying in bulk. Costco's April Sales Reinforce Its Case as the Ultimate Defensive Stock
• Positive Sentiment: New food-court items, including chicken strips, are generating customer buzz and social media attention that may support traffic and membership loyalty. Forget chicken fingers, Costco quietly adds new food court item
• Neutral Sentiment: Several articles discuss whether Costco should split its stock now that shares are above $1,000, but management has not announced any split. Costco's Stock Keeps Breaking the $1,000 Threshold -- Don't Expect a Stock Split

Costco Wholesale Company 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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