Bowen Hanes & Co. Inc. Reduces Stock Position in Costco Wholesale Corporation $COST

Bowen Hanes & Co. Inc. cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 19.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 95,694 shares of the retailer’s stock after selling 22,587 shares during the quarter. Costco Wholesale makes up approximately 2.1% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 14th biggest position. Bowen Hanes & Co. Inc.’s holdings in Costco Wholesale were worth $82,521,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Costco Wholesale by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 43,620,717 shares of the retailer’s stock valued at $37,615,889,000 after purchasing an additional 165,349 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Costco Wholesale by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock valued at $8,919,573,000 after purchasing an additional 26,690 shares in the last quarter. Norges Bank purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $5,195,415,000. Bank of New York Mellon Corp grew its position in shares of Costco Wholesale by 5.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,518,341 shares of the retailer’s stock valued at $3,034,006,000 after purchasing an additional 170,979 shares in the last quarter. Finally, Amundi grew its position in shares of Costco Wholesale by 45.0% in the third quarter. Amundi now owns 3,176,606 shares of the retailer’s stock valued at $2,893,697,000 after purchasing an additional 986,182 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COST has been the subject of a number of analyst reports. Roth Mkm upped their price target on Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Wells Fargo & Company upped their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Telsey Advisory Group increased their price objective on Costco Wholesale from $1,125.00 to $1,135.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. TD Cowen reiterated a “buy” rating and issued a $1,175.00 price objective on shares of Costco Wholesale in a research report on Wednesday. Finally, Citigroup reiterated a “neutral” rating on shares of Costco Wholesale in a research report on Friday, February 20th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,060.41.

Costco Wholesale Trading Up 0.8%

COST opened at $961.83 on Thursday. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The business has a fifty day simple moving average of $1,006.79 and a 200-day simple moving average of $963.58. The firm has a market cap of $426.72 billion, a P/E ratio of 48.38, a P/E/G ratio of 4.62 and a beta of 0.88. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.72% and a net margin of 3.01%.The firm had revenue of $70.53 billion for the quarter, compared to analysts’ expectations of $70.12 billion. During the same quarter in the prior year, the business earned $4.28 earnings per share. On average, equities analysts expect that Costco Wholesale Corporation will post 20.38 earnings per share for the current year.

Costco Wholesale Increases Dividend

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

Insider Activity

In other news, EVP Claudine Adamo sold 730 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $1,003.02, for a total value of $732,204.60. Following the sale, the executive vice president directly owned 6,121 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Costco Wholesale News Summary

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

• Positive Sentiment: Costco reported robust May sales growth, with net sales up 14.5% year over year and strong comparable sales across key geographies, signaling healthy demand and execution. Costco Wholesale Corporation Reports May Sales Results
• Positive Sentiment: Analysts remained constructive, with TD Cowen reaffirming a Buy rating and lifting its price target to $1,175, suggesting more upside if Costco keeps delivering on sales and memberships. Benzinga coverage of TD Cowen rating
• Positive Sentiment: Articles highlighted Costco’s accelerating growth drivers, including stronger digital demand, membership income, and traffic, which support the long-term bullish case for the stock. 3 Compelling Costco Growth Drivers You Might Not Know About
• Positive Sentiment: Higher gasoline prices may be driving more traffic to Costco fuel stations, helping boost store visits and supporting the warehouse club’s value proposition. Costco gets surprising lift from an everyday expense

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.