Lazard Asset Management LLC Acquires 74,800 Shares of Costco Wholesale Corporation $COST

Key Points

• Lazard Asset Management increased its Costco stake by 70.5% in the first quarter, purchasing 74,800 additional shares and bringing its holdings to 180,870 shares valued at approximately $180.2 million. Institutional investors collectively own 68.48% of Costco.
• Costco reported quarterly revenue of $70.53 billion, exceeding estimates, though EPS of $4.93 narrowly missed expectations. Shares opened at $935.03, while the stock carries a consensus “Moderate Buy” rating and an average analyst price target of $1,059.07.
• The company declared a quarterly dividend of $1.47 per share, equivalent to $5.88 annually and a 0.6% yield. Director Kenneth D. Denman also sold 885 shares, reducing his position by 15.62%.

Lazard Asset Management LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 70.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,870 shares of the retailer's stock after buying an additional 74,800 shares during the period. Lazard Asset Management LLC's holdings in Costco Wholesale were worth $180,224,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COST. Brighton Jones LLC grew 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 valued at $18,165,000 after purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Costco Wholesale by 4.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer's stock valued at $3,814,000 after buying an additional 165 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Costco Wholesale by 1.1% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer's stock valued at $2,089,000 after acquiring an additional 23 shares during the period. Finally, Schnieders Capital Management LLC. grew its stake in shares of Costco Wholesale by 2.2% during the 2nd quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer's stock valued at $8,416,000 after acquiring an additional 182 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST opened at $935.03 on Monday. 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 Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. The company has a 50 day simple moving average of $965.91 and a two-hundred day simple moving average of $980.66. The firm has a market cap of $414.67 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 4.52 and a beta of 0.88.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, July 24th. Costco Wholesale's payout ratio is currently 29.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on COST shares. The Goldman Sachs Group raised 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 research note on Friday, May 29th. UBS Group upped their price target on shares of Costco Wholesale from $1,205.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. HC Wainwright reaffirmed a "buy" rating on shares of Costco Wholesale in a report on Monday, June 1st. Finally, Weiss Ratings lowered Costco Wholesale from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,059.07.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the business's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the sale, the director owned 4,779 shares in the company, valued at $4,575,653.55. The trade was a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company's stock.

Costco Wholesale News Roundup

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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