Costco Wholesale Corporation $COST Stake Cut by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,838 shares of the retailer’s stock after selling 1,327 shares during the quarter. Costco Wholesale comprises approximately 1.6% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 11th biggest position. Kornitzer Capital Management Inc. KS’s holdings in Costco Wholesale were worth $86,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Axiom Investment Management LLC boosted its holdings in Costco Wholesale by 22.5% in the 3rd quarter. Axiom Investment Management LLC now owns 98 shares of the retailer’s stock valued at $89,000 after purchasing an additional 18 shares during the last quarter. Leelyn Smith LLC lifted its holdings in Costco Wholesale by 1.7% in the third quarter. Leelyn Smith LLC now owns 6,553 shares of the retailer’s stock valued at $5,966,000 after acquiring an additional 107 shares during the last quarter. Allen Investment Management LLC lifted its holdings in Costco Wholesale by 1.2% in the third quarter. Allen Investment Management LLC now owns 5,556 shares of the retailer’s stock valued at $5,058,000 after acquiring an additional 66 shares during the last quarter. Verus Capital Partners LLC grew its position in Costco Wholesale by 0.4% in the third quarter. Verus Capital Partners LLC now owns 3,041 shares of the retailer’s stock worth $2,768,000 after acquiring an additional 13 shares during the period. Finally, American Institute for Advanced Investment Management LLP grew its position in Costco Wholesale by 3.2% in the third quarter. American Institute for Advanced Investment Management LLP now owns 1,139 shares of the retailer’s stock worth $1,037,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.1%

Shares of NASDAQ COST opened at $1,053.56 on Friday. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,096.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $952.42 and a 200-day simple moving average of $972.49. The stock has a market capitalization of $466.86 billion, a PE ratio of 50.75, a PEG ratio of 4.50 and a beta of 0.85.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data 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. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same quarter in the previous year, the business earned $5.87 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $1.47 dividend. 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 payout ratio is currently 28.32%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the sale, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the sale, the executive vice president directly owned 3,094 shares in the company, valued at $2,964,701.74. This represents a 26.23% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on COST. Evercore restated an “outperform” rating on shares of Costco Wholesale in a research report on Tuesday, September 22nd. Jefferies Financial Group lowered their price target on Costco Wholesale from $1,130.00 to $1,100.00 in a report on Friday, September 25th. Freedom Broker decreased their target price on shares of Costco Wholesale from $1,030.00 to $1,010.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. DA Davidson boosted their price target on shares of Costco Wholesale from $1,000.00 to $1,040.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Finally, Mizuho decreased their price objective on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.55.

Trending Headlines about Costco Wholesale

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

• Positive Sentiment: Costco reported October net sales of $24.50 billion, up 12.6% year over year. U.S. comparable sales rose 8.1% excluding gasoline-price changes, while digital growth also accelerated—evidence of continued customer demand. Costco’s October Net Sales Jump 12.6% as Digital Growth Accelerates
• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an overweight rating. Bank of America also kept its buy rating following the stronger U.S. comparable-sales results. JPMorgan price-target update Costco retains BofA buy as October U.S. comps rise
• Neutral Sentiment: Recent coverage points to solid share-price momentum, supported by a string of earnings beats, but investors may be watching whether earnings growth can justify the stock’s valuation. Costco Stock: Earnings Growth Could Shape the Next Big Move
• Negative Sentiment: Valuation remains a key risk: reports cite a trailing P/E near 49, leaving limited room for disappointment, while earnings revisions have raised concerns. Citi maintained a hold rating with a $1,020 target, reflecting a more cautious view than JPMorgan’s. Costco Stock: Why Analysts Are Split Despite Strong October Sales

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line.

The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.

Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.