Westpac Banking Corp Buys Shares of 3,047 Costco Wholesale Corporation $COST

Westpac Banking Corp bought a new position in Costco Wholesale Corporation (NASDAQ:COST) during the 2nd quarter, HoldingsChannel reports. The firm bought 3,047 shares of the retailer’s stock, valued at approximately $2,850,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Costco Wholesale during the 4th quarter worth $27,000. Lifetime Wealth Management P.C. bought a new stake in shares of Costco Wholesale in the fourth quarter worth about $28,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Costco Wholesale in the second quarter worth about $28,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $28,000. Finally, Entrust Financial LLC bought a new position in shares of Costco Wholesale during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Roth Capital raised their target price on shares of Costco Wholesale from $769.00 to $781.00 and gave the stock a “sell” rating in a report on Friday, May 29th. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Mizuho set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, June 1st. Finally, Sanford C. Bernstein increased their price objective on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,059.53.

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the transaction, the director directly owned 4,779 shares of the company’s stock, valued at $4,575,653.55. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

Costco Wholesale News Summary

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

• Positive Sentiment: Strong sales momentum supports the investment case. Costco reported August net sales of $23.70 billion, up 9.9% year over year. Fourth-quarter sales rose 11.3% to $93.9 billion, while fiscal-year sales increased 10.2% to $297.3 billion. Total comparable sales grew 8.4% for the year, and digitally enabled sales jumped 20.9%. Costco Wholesale Corporation Reports August Sales Results
• Positive Sentiment: Analyst sentiment remains favorable. Mizuho reiterated a Buy rating and maintained a $1,100 price target, citing confidence in Costco’s membership-driven growth. Recent analyst targets generally remain above the current trading level, with a reported six-month median target of $1,125. Analyst Reiterates Buy on Costco
• Neutral Sentiment: Calendar effects clouded the monthly comparison. Costco said the later timing of Labor Day reduced August total and comparable sales growth by slightly less than 75 basis points. Underlying performance remained positive, but investors may look for confirmation in the next report.
• Negative Sentiment: Costco Next was abruptly discontinued. The company shut down the online Costco Next marketplace without notice. While the service is unlikely to materially affect near-term financial results, the move could disappoint members and remove a customer-engagement perk. Costco has ended this online service without notice
• Negative Sentiment: Regulatory uncertainty increased. The U.S. Department of Justice expanded an investigation into rising beef prices to include Costco and other major retailers. Potential reputational, legal, or margin-related consequences create an overhang, although no wrongdoing has been established. DOJ expands beef price investigation
• Negative Sentiment: Valuation leaves little room for disappointment. Costco trades at roughly 47 times earnings, with a PEG ratio above 4, and shares remain below their 50-day and 200-day moving averages. Insider activity has also consisted of sales rather than purchases in recent months, adding to investor caution.

Costco Wholesale Stock Down 1.2%

NASDAQ:COST opened at $928.48 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 1.07. The company has a market cap of $411.76 billion, a PE ratio of 46.70, a PEG ratio of 3.89 and a beta of 0.87. Costco Wholesale Corporation has a 52-week low of $844.06 and a 52-week high of $1,096.50. The stock has a 50-day simple moving average of $944.65 and a 200 day simple moving average of $978.84.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 29.58%.

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.