Vestcor Inc Has $12.73 Million Position in Costco Wholesale Corporation $COST

Key Points

• Vestcor Inc cut its Costco stake by 28.6% in the fourth quarter, selling 5,907 shares and ending with 14,760 shares valued at about $12.73 million.
• Wall Street remains broadly bullish on Costco, with 22 Buy ratings, 11 Hold ratings, and an average “Moderate Buy” consensus price target of $1,060.41.
• Costco reported mixed recent results: quarterly EPS of $4.93 missed estimates by a penny, but revenue topped expectations at $70.53 billion, and the company raised its quarterly dividend to $1.47 per share.

Vestcor Inc lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,760 shares of the retailer's stock after selling 5,907 shares during the quarter. Vestcor Inc's holdings in Costco Wholesale were worth $12,728,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have weighed in on COST. Truist Financial upped their target price on Costco Wholesale from $977.00 to $1,011.00 and gave the stock a "hold" rating in a research note on Friday, May 29th. Evercore set a $1,100.00 target price on Costco Wholesale in a research note on Monday, March 2nd. TD Cowen restated a "buy" rating and set a $1,175.00 target price on shares of Costco Wholesale in a research note on Wednesday. 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 research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. upped their target price on Costco Wholesale from $1,060.00 to $1,110.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Twenty-two investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,060.41.

Costco Wholesale Stock Down 0.0%

Shares of COST opened at $971.87 on Friday. The stock has a market capitalization of $431.17 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 4.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.07. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The stock has a fifty day moving average of $1,006.71 and a 200-day moving average of $963.99.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results 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). The company had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same period in the prior year, the business earned $4.28 earnings per share. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 20.38 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

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

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 730 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $1,003.02, for a total transaction of $732,204.60. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Key Stories Impacting Costco Wholesale

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

• Positive Sentiment: Costco posted another strong month, with May net sales up 14.5% year over year to $24.01 billion and comparable sales still running at a healthy pace, reinforcing the view that traffic and spending trends remain solid. Costco Wholesale Corporation Reports May Sales Results
• Positive Sentiment: Analysts continued to point to Costco’s defensive fundamentals, strong U.S. comparable sales, fuel-driven traffic, and growing digital business as reasons for optimism on the stock. Costco Stock (COST) Keeps Wall Street Split despite Accelerating Sales
• Positive Sentiment: Costco’s ability to hold up during the broader market sell-off underscored its reputation as a defensive retailer, which may have helped support investor interest. Why Costco Stock Held Steady During Friday's Market Sell-Off
• Neutral Sentiment: Several articles framed Costco as a high-quality long-term compounder, but also emphasized that its premium valuation leaves less room for error if growth slows. Costco stock price shocks market despite major blowout quarter
• Neutral Sentiment: Costco’s valuation remains a debate point on Wall Street, with some analysts maintaining Buy ratings and high price targets while others argue the stock already reflects much of the good news. Costco: Robust Comps and Reaccelerating Digital Sales Support Buy Rating, Price Target Reaffirmed at $1275
• Negative Sentiment: One recent note argued that Costco’s strong quarter was not enough to offset valuation worries, suggesting investors may be hesitant to pay up after the recent sales-driven rally. Costco's Strong Quarter Still Leaves Investors with a Valuation Problem

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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