Costco Wholesale Corporation $COST Shares Purchased by StrongBox Wealth LLC

StrongBox Wealth LLC grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,978 shares of the retailer’s stock after buying an additional 898 shares during the quarter. Costco Wholesale accounts for approximately 2.2% of StrongBox Wealth LLC’s holdings, making the stock its 14th biggest holding. StrongBox Wealth LLC’s holdings in Costco Wholesale were worth $8,173,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First National Bank of Hutchinson boosted its position in shares of Costco Wholesale by 0.9% during the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock valued at $1,094,000 after acquiring an additional 10 shares in the last quarter. Frisch Financial Group Inc. increased its stake in Costco Wholesale by 1.0% in the first quarter. Frisch Financial Group Inc. now owns 1,049 shares of the retailer’s stock valued at $1,045,000 after acquiring an additional 10 shares during the period. Main Street Group LTD raised its position in Costco Wholesale by 0.8% in the first quarter. Main Street Group LTD now owns 1,226 shares of the retailer’s stock worth $1,221,000 after purchasing an additional 10 shares in the last quarter. HORAN Wealth LLC raised its position in Costco Wholesale by 1.3% in the first quarter. HORAN Wealth LLC now owns 803 shares of the retailer’s stock worth $769,000 after purchasing an additional 10 shares in the last quarter. Finally, SHUTTLEWORTH & Co raised its position in Costco Wholesale by 0.4% in the first quarter. SHUTTLEWORTH & Co now owns 2,442 shares of the retailer’s stock worth $2,433,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

More Costco Wholesale News

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

• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an Overweight rating, citing potential upside from the current level. JPMorgan analyst recommendations
• Positive Sentiment: October net sales increased 12.6% year over year to $24.50 billion. U.S. comparable sales also rose 12.6%; Bank of America noted that U.S. comps were up 8.1% after adjusting for gasoline price changes and maintained its Buy rating. The strong sales momentum is a key near-term catalyst. Costco October sales results Bank of America rating and U.S. comparable sales
• Negative Sentiment: Valuation concerns persist after Costco’s rally: some commentary argues the stock’s elevated earnings multiple leaves limited room for disappointment. Citi maintained a Hold rating and $1,020 price target, below the recently quoted share price. Citi rating and price target Costco valuation discussion

Costco Wholesale Stock Up 1.8%

COST opened at $1,065.59 on Friday. The firm has a market cap of $472.19 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 4.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. The firm’s 50-day simple moving average is $950.04 and its 200-day simple moving average is $972.05. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.21. The firm had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $5.87 EPS. Equities research analysts anticipate that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 30th. Costco Wholesale’s dividend payout ratio is currently 28.32%.

Insider Activity at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the completion of the transaction, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the transaction, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on COST shares. Mizuho cut their price target on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Friday, September 25th. Jefferies Financial Group lowered their price objective on Costco Wholesale from $1,130.00 to $1,100.00 in a research note on Friday, September 25th. Sanford C. Bernstein lowered their price objective on Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Oppenheimer reissued an “outperform” rating and issued a $1,160.00 target price on shares of Costco Wholesale in a report on Wednesday, September 16th. Finally, Truist Financial decreased their price target on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,090.55.

About Costco Wholesale

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.