PNC Financial Services Group Inc. Purchases 44,684 Shares of Costco Wholesale Corporation $COST

Key Points

• PNC Financial Services Group increased its stake in Costco by 7.7% in the fourth quarter, buying 44,684 additional shares and bringing its total holding to 626,294 shares valued at about $540.1 million.
• Costco continues to attract institutional investors, with 68.48% of the stock now owned by hedge funds and other institutions, while several other funds also boosted their positions during the quarter.
• Recent business momentum remains strong: Costco raised its quarterly dividend 13% to $1.47 per share and posted April comparable sales growth of 11.6%, helping fuel analyst optimism ahead of its upcoming earnings report.

PNC Financial Services Group Inc. grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 626,294 shares of the retailer's stock after buying an additional 44,684 shares during the quarter. PNC Financial Services Group Inc. owned 0.14% of Costco Wholesale worth $540,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in Costco Wholesale by 54.1% during the fourth quarter. GSA Capital Partners LLP now owns 3,911 shares of the retailer's stock valued at $3,373,000 after acquiring an additional 1,373 shares during the period. Tredje AP fonden boosted its stake in shares of Costco Wholesale by 222.0% in the fourth quarter. Tredje AP fonden now owns 50,420 shares of the retailer's stock worth $43,479,000 after acquiring an additional 34,762 shares during the period. Larson Financial Group LLC grew its position in shares of Costco Wholesale by 22.2% during the fourth quarter. Larson Financial Group LLC now owns 13,198 shares of the retailer's stock worth $11,381,000 after purchasing an additional 2,402 shares in the last quarter. Paul R. Ried Financial Group LLC raised its stake in Costco Wholesale by 3.2% during the 4th quarter. Paul R. Ried Financial Group LLC now owns 1,766 shares of the retailer's stock valued at $1,523,000 after purchasing an additional 55 shares during the period. Finally, Stolz & Associates PS bought a new stake in Costco Wholesale during the 4th quarter valued at approximately $1,192,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Costco Wholesale

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

• Positive Sentiment: Costco raised its quarterly dividend by 13% to $1.47 per share, marking 22 straight years of dividend increases and signaling confidence in cash generation. This helped push shares to new highs. Where Will Costco Stock Be In 2028?
• Positive Sentiment: Analysts turned more constructive ahead of the company’s May 28 earnings report, with Oppenheimer lifting its price target to $1,160 after strong April sales and the dividend hike. Costco (COST) Stock Gains as Analysts Raise Price Targets Before Quarterly Report
• Positive Sentiment: Costco’s April sales reinforced its defensive appeal, with 11.6% comparable sales growth and 18.8% digital sales growth as value-focused shoppers kept buying in bulk. Costco's April Sales Reinforce Its Case as the Ultimate Defensive Stock
• Positive Sentiment: New food-court items, including chicken strips, are generating customer buzz and social media attention that may support traffic and membership loyalty. Forget chicken fingers, Costco quietly adds new food court item
• Neutral Sentiment: Several articles discuss whether Costco should split its stock now that shares are above $1,000, but management has not announced any split. Costco's Stock Keeps Breaking the $1,000 Threshold -- Don't Expect a Stock Split

Analyst Ratings Changes

Several research firms have recently issued reports on COST. The Goldman Sachs Group lowered their target price on shares of Costco Wholesale from $1,171.00 to $1,088.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Roth Mkm reaffirmed a "sell" rating on shares of Costco Wholesale in a research note on Wednesday, February 4th. Evercore set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft boosted their price target 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. Finally, Bank of America initiated coverage on shares of Costco Wholesale in a report on Friday, February 27th. They set a "buy" rating and a $1,185.00 price objective for the company. Twenty-two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,049.27.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,094.32 on Wednesday. The firm has a market capitalization of $485.50 billion, a PE ratio of 56.91, a PEG ratio of 5.30 and a beta of 0.92. The stock's fifty day moving average is $1,004.71 and its 200 day moving average is $957.59. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 1.06.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The retailer reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $0.03. The business had revenue of $69.60 billion during the quarter, compared to the consensus estimate of $68.96 billion. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.02 earnings per share. On average, sell-side analysts anticipate that Costco Wholesale Corporation will post 20.31 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced 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. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Friday, May 1st. This represents a $5.88 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's payout ratio is 30.58%.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 730 shares of Costco Wholesale 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 of the company's stock, 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 filing with the SEC, which is available through this link. Company insiders own 0.10% of the company's stock.

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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