Petersen Hastings Wealth Advisors Inc. Invests $1.99 Million in Costco Wholesale Corporation $COST

Key Points

• Petersen Hastings Wealth Advisors initiated a new position in Costco during the fourth quarter, buying 2,303 shares worth about $1.99 million. The stake makes Costco its 25th largest holding and about 0.2% of its portfolio.
• Institutional interest remains strong, with hedge funds and asset managers making sizable moves in COST and roughly 68.48% of the stock now owned by institutional investors. Meanwhile, EVP Claudine Adamo sold 730 shares in a disclosed insider transaction.
• Costco continues to show solid operating performance, reporting $70.53 billion in quarterly revenue and raising its dividend to $1.47 per share from $1.30. Analysts remain broadly bullish, with a consensus rating of Moderate Buy and an average price target of about $1,060.41.

Petersen Hastings Wealth Advisors Inc. purchased a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,303 shares of the retailer's stock, valued at approximately $1,986,000. Costco Wholesale makes up about 0.2% of Petersen Hastings Wealth Advisors Inc.'s holdings, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of COST. Norges Bank purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $5,195,415,000. Assenagon Asset Management S.A. lifted its holdings in shares of Costco Wholesale by 1,586.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,137,436 shares of the retailer's stock worth $980,857,000 after buying an additional 1,070,005 shares in the last quarter. Amundi lifted its holdings in shares of Costco Wholesale by 45.0% in the third quarter. Amundi now owns 3,176,606 shares of the retailer's stock worth $2,893,697,000 after buying an additional 986,182 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Costco Wholesale by 182.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,059 shares of the retailer's stock worth $462,265,000 after buying an additional 346,208 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Costco Wholesale by 112.2% in the third quarter. Voloridge Investment Management LLC now owns 477,425 shares of the retailer's stock worth $441,919,000 after buying an additional 252,453 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 730 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $1,003.02, for a total transaction of $732,204.60. Following the transaction, the executive vice president directly owned 6,121 shares in the company, valued at $6,139,485.42. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Costco Wholesale Stock Up 1.1%

COST stock opened at $972.59 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $1,006.77 and its 200 day moving average is $963.93. The stock has a market cap of $431.49 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 4.66 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 posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing the consensus estimate of $4.94 by ($0.01). The company had revenue of $70.53 billion during the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a return on equity of 28.72% and a net margin of 3.01%.During the same quarter last year, the company posted $4.28 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 20.38 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $1.47 per share. The ex-dividend date was Friday, May 1st. This is an increase from Costco Wholesale's previous quarterly dividend of $1.30. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is 29.58%.

Costco Wholesale News Roundup

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

• Positive Sentiment: Costco’s May sales came in strong, with revenue up 14.5% year over year and robust comparable-sales growth, reinforcing the company’s momentum in membership-driven retail demand. Article Title
• Positive Sentiment: Analysts remain constructive on COST, with TD Cowen, UBS, William Blair, and DA Davidson maintaining bullish or supportive ratings and price targets that imply upside from current levels. Article Title
• Positive Sentiment: Costco is expanding higher-margin and traffic-driving initiatives, including exclusive products like Ghost beverages, stronger wellness/self-care sales, and faster same-day delivery and online engagement. Article Title
• Positive Sentiment: The company’s gasoline strategy is also boosting store visits, as record fuel volumes and lower-priced gas continue to draw members into warehouses and support overall traffic. Article Title

Analyst Ratings Changes

A number of brokerages have recently issued reports on COST. Truist Financial increased their price target on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the stock a "hold" rating in a report on Friday, May 29th. JPMorgan Chase & Co. increased their price target on shares of Costco Wholesale from $1,060.00 to $1,110.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. BMO Capital Markets increased their price target on shares of Costco Wholesale from $1,175.00 to $1,315.00 and gave the stock an "outperform" rating in a report on Friday, March 6th. The Goldman Sachs Group increased their price target 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. Finally, Robert W. Baird set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, February 5th. Twenty-two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,060.41.

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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