Canandaigua National Bank & Trust Co. Takes Position in Costco Wholesale Corporation $COST

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,703 shares of the retailer’s stock, valued at approximately $1,593,000.

Several other institutional investors and hedge funds also recently bought and sold shares of COST. Sandy Cove Advisors LLC grew its stake in Costco Wholesale by 3.0% in the 2nd quarter. Sandy Cove Advisors LLC now owns 750 shares of the retailer’s stock worth $702,000 after buying an additional 22 shares in the last quarter. Carderock Capital Management Inc. increased its stake in Costco Wholesale by 11.4% in the 2nd quarter. Carderock Capital Management Inc. now owns 10,821 shares of the retailer’s stock worth $10,123,000 after purchasing an additional 1,105 shares during the period. Waller Financial Planning Group Inc. bought a new stake in Costco Wholesale during the 2nd quarter valued at $308,000. Grove Bank & Trust increased its position in shares of Costco Wholesale by 7.3% in the second quarter. Grove Bank & Trust now owns 7,406 shares of the retailer’s stock valued at $6,928,000 after acquiring an additional 501 shares during the period. Finally, CGN Advisors LLC raised its holdings in Costco Wholesale by 1.9% in the 2nd quarter. CGN Advisors LLC now owns 2,916 shares of the retailer’s stock worth $2,728,000 after purchasing an additional 54 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director directly owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Stock Down 0.6%

NASDAQ COST opened at $941.99 on Thursday. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The stock has a market cap of $417.75 billion, a PE ratio of 47.38, a P/E/G ratio of 4.58 and a beta of 0.87. The stock’s 50 day moving average is $951.60 and its 200 day moving average is $982.34.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. 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 previous year, the business earned $4.28 EPS. Research analysts predict that Costco Wholesale Corporation will post 20.42 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

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

Costco Wholesale News Roundup

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

• Positive Sentiment: Costco reported July net sales of $23.12 billion, up 10.7% year over year. Sales for the first 48 weeks rose 10.1% to $273.55 billion, reinforcing the strength of consumer demand and membership-based traffic. Costco Wholesale Corporation Reports July Sales Results
• Positive Sentiment: The company continues expanding its store footprint, with construction underway near Meridian, Idaho and the Kuna border. New warehouses can increase membership, merchandise sales and ancillary revenue over time. Costco construction underway near Kuna border
• Positive Sentiment: Costco’s Kirkland Signature private-label brand remains a competitive advantage, attracting members and supporting customer loyalty. Its strategy is increasingly being viewed as a model by other retailers. Formerly bankrupt department store bets on Costco strategy
• Neutral Sentiment: Low-priced gasoline primarily supports Costco indirectly by attracting shoppers and encouraging memberships rather than generating substantial fuel profits. The strategy may boost traffic but can constrain direct fuel margins. Costco keeps its gas super cheap
• Negative Sentiment: Residents are objecting to a reportedly privately negotiated tax-sharing agreement tied to a proposed Costco and gas station project in an Orange County city. Political opposition or permitting delays could slow the development and add execution risk. Residents oppose Costco tax-sharing agreement

Analyst Ratings Changes

A number of equities analysts recently issued reports on COST shares. BTIG Research reissued a “buy” rating and issued a $1,125.00 price target on shares of Costco Wholesale in a research note on Friday, May 29th. Royal Bank Of Canada initiated coverage on shares of Costco Wholesale in a report on Monday, July 13th. They issued a “sector perform” rating and a $1,000.00 price objective on the stock. Telsey Advisory Group raised their price target on Costco Wholesale from $1,125.00 to $1,135.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Oppenheimer upped their price target on Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on 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. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,059.07.

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.