KLP Kapitalforvaltning AS Buys 6,000 Shares of Costco Wholesale Corporation $COST

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Costco Wholesale Corporation by 3.9%, owning a total of 158,340 shares valued at approximately $156.7 million, making it the firm's 19th largest holding.
• Costco recently reported quarterly earnings of $5.87 per share, exceeding analysts' expectations, with revenue of $86.16 billion, a year-over-year increase of 8.1%.
• Nineteen investment analysts currently rate Costco as a 'Buy,' indicating strong market confidence, while the average target price is set at $1,067.19.

KLP Kapitalforvaltning AS increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,340 shares of the retailer's stock after acquiring an additional 6,000 shares during the period. Costco Wholesale comprises approximately 0.7% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 19th largest holding. KLP Kapitalforvaltning AS's holdings in Costco Wholesale were worth $156,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of COST. Brighton Jones LLC raised its holdings in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares in the last quarter. Charter Oak Capital Management LLC raised its stake in Costco Wholesale by 7.1% in the first quarter. Charter Oak Capital Management LLC now owns 255 shares of the retailer's stock valued at $241,000 after buying an additional 17 shares during the period. SOA Wealth Advisors LLC. raised its stake in Costco Wholesale by 10,846.8% in the first quarter. SOA Wealth Advisors LLC. now owns 20,580 shares of the retailer's stock valued at $203,000 after buying an additional 20,392 shares during the period. Finally, Bennett Selby Investments LP raised its stake in Costco Wholesale by 17.5% in the first quarter. Bennett Selby Investments LP now owns 1,109 shares of the retailer's stock valued at $1,049,000 after buying an additional 165 shares during the period. Institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

COST has been the topic of several research analyst reports. Wolfe Research initiated coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. DA Davidson restated a "neutral" rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Sanford C. Bernstein upped their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Daiwa Capital Markets dropped their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Finally, Citigroup dropped their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,067.19.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares of the company's stock, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock valued at $7,588,685 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $910.94 on Tuesday. The firm has a market cap of $403.98 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The business's 50 day moving average is $953.08 and its 200-day moving average is $972.16.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.15 earnings per share. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio is currently 28.56%.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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