Lombard Odier Asset Management Switzerland SA Raises Stock Position in Costco Wholesale Corporation $COST

Key Points

• Lombard Odier Asset Management Switzerland SA boosted its Costco stake by 16.6% in the first quarter, buying 3,200 more shares and bringing its holdings to 22,440 shares worth about $22.36 million.
• Several other institutional investors also increased their Costco positions, and institutions now own 68.48% of the company’s stock, underscoring continued large-investor interest.
• Costco’s recent news flow remains generally positive: record gas demand is driving more store traffic, analysts still rate the stock “Moderate Buy,” and the company recently announced a quarterly dividend of $1.47 per share.

Lombard Odier Asset Management Switzerland SA increased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,440 shares of the retailer's stock after acquiring an additional 3,200 shares during the period. Costco Wholesale makes up approximately 0.8% of Lombard Odier Asset Management Switzerland SA's investment portfolio, making the stock its 15th biggest position. Lombard Odier Asset Management Switzerland SA's holdings in Costco Wholesale were worth $22,360,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Diamant Asset Management Inc. grew its holdings in Costco Wholesale by 99,278.0% during the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer's stock valued at $672,690,000 after purchasing an additional 6,720,130 shares during the last quarter. Norges Bank purchased a new stake in Costco Wholesale in the fourth quarter worth $5,195,415,000. Corient Private Wealth LLC increased its stake in Costco Wholesale by 838.9% in the 4th quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer's stock worth $5,282,182,000 after buying an additional 5,472,968 shares during the period. Cardano Risk Management B.V. increased its position in shares of Costco Wholesale by 907.1% during the fourth quarter. Cardano Risk Management B.V. now owns 1,785,080 shares of the retailer's stock worth $1,539,346,000 after acquiring an additional 1,607,833 shares during the period. Finally, Amundi raised its stake in shares of Costco Wholesale by 45.0% during the third quarter. Amundi now owns 3,176,606 shares of the retailer's stock valued at $2,893,697,000 after acquiring an additional 986,182 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Key Headlines Impacting Costco Wholesale

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.

Insider Activity at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of Costco Wholesale stock in a transaction dated 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. 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 at the SEC website. 0.10% of the stock is owned by company insiders.

Costco Wholesale Price Performance

NASDAQ COST opened at $935.03 on Friday. The stock's fifty day moving average price is $965.91 and its 200 day moving average price is $979.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The company has a market cap of $414.67 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.52 and a beta of 0.88. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 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 business had revenue of $70.53 billion during the quarter, compared to analysts' expectations of $70.12 billion. During the same period last year, the company earned $4.28 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Corporation will post 20.42 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, July 24th. Costco Wholesale's dividend payout ratio (DPR) is currently 29.58%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Oppenheimer increased their price objective on Costco Wholesale from $1,100.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Wells Fargo & Company upped their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Telsey Advisory Group increased their price target on Costco Wholesale from $1,125.00 to $1,135.00 and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Truist Financial raised their target price on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the company a "hold" rating in a research report on Friday, May 29th. Finally, Bank of America lifted their price target on Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a "buy" rating in a report on Friday, May 29th. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus price target of $1,059.07.

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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