Jessup Wealth Management Inc Grows Stake in Costco Wholesale Corporation $COST

Key Points

• Jessup Wealth Management increased its Costco stake by 184.3% in the first quarter, bringing its holdings to 10,974 shares valued at approximately $10.94 million. Institutional investors collectively own 68.48% of Costco’s stock.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $1,059.07, despite Costco’s shares opening at $935.03 and trading below their 50- and 200-day moving averages.
• Costco reported quarterly revenue of $70.53 billion, exceeding estimates, while EPS of $4.93 narrowly missed forecasts. The company declared a quarterly dividend of $1.47 per share, representing a 0.6% yield.

Jessup Wealth Management Inc boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 184.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,974 shares of the retailer's stock after buying an additional 7,114 shares during the quarter. Costco Wholesale makes up approximately 4.0% of Jessup Wealth Management Inc's investment portfolio, making the stock its 8th biggest holding. Jessup Wealth Management Inc's holdings in Costco Wholesale were worth $10,935,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Family Manage LLC raised its stake in Costco Wholesale by 32.6% in the first quarter. Family Manage LLC now owns 1,217 shares of the retailer's stock worth $1,213,000 after buying an additional 299 shares in the last quarter. Intelligence Driven Advisers LLC bought a new stake in Costco Wholesale during the 1st quarter valued at $233,000. Gateway Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 52.8% in the 1st quarter. Gateway Wealth Partners LLC now owns 7,468 shares of the retailer's stock valued at $7,442,000 after acquiring an additional 2,582 shares during the period. Wealth Watch Advisors INC increased its holdings in shares of Costco Wholesale by 209.3% in the 1st quarter. Wealth Watch Advisors INC now owns 334 shares of the retailer's stock valued at $333,000 after acquiring an additional 226 shares during the period. Finally, Blue Chip Partners LLC raised its position in shares of Costco Wholesale by 5.6% in the 1st quarter. Blue Chip Partners LLC now owns 34,381 shares of the retailer's stock worth $34,259,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares in the company, 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 at this link. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COST. Telsey Advisory Group upped their price objective on Costco Wholesale from $1,125.00 to $1,135.00 and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Mizuho set a $1,100.00 target price on Costco Wholesale in a research note on Monday, June 1st. The Goldman Sachs Group boosted their target price on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Sanford C. Bernstein raised their price target on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Finally, Citigroup assumed coverage on shares of Costco Wholesale in a research report on Thursday, June 18th. They issued a "neutral" rating and a $1,020.00 price objective on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,059.07.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $935.03 on Monday. The business's 50-day moving average is $965.91 and its 200 day moving average is $980.66. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. The firm has a market capitalization of $414.67 billion, a P/E ratio of 47.03, a P/E/G ratio of 4.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61.

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

Costco Wholesale Announces Dividend

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

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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