Costco Wholesale Corporation $COST Stock Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,187 shares of the retailer’s stock after buying an additional 1,134 shares during the quarter. Ritholtz Wealth Management’s holdings in Costco Wholesale were worth $24,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in Costco Wholesale during the second quarter valued at $6,781,946,000. State Street Corp lifted its holdings in Costco Wholesale by 31.7% in the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after acquiring an additional 5,749,362 shares during the period. Legal & General Group Plc purchased a new position in Costco Wholesale in the second quarter worth about $2,362,188,000. Ascentis Wealth Management LLC boosted its position in Costco Wholesale by 103,637.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after purchasing an additional 2,497,652 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new position in Costco Wholesale in the second quarter worth about $726,689,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Costco Wholesale from $1,143.00 to $1,155.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $1,160.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 16th. Bank of America dropped their price objective on shares of Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Freedom Broker downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and raised their price objective for the stock from $1,010.00 to $1,050.00 in a report on Tuesday. Finally, Truist Financial cut their target price on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,092.23.

Key Costco Wholesale News

Investors following COST have been watching these news items:

• Positive Sentiment: Costco declared a $30-per-share special cash dividend, totaling about $13.3 billion, payable December 4 to shareholders of record November 24. The payout signals strong cash generation and may support investor demand, though it is a one-time distribution. Costco dividend and repurchase announcement
• Positive Sentiment: The board also reauthorized a $4 billion stock repurchase program, reinforcing Costco’s capital-return plans. Bernstein raised its price target to $1,155 from $1,143 and maintained an Outperform rating; Mizuho also raised its target following the announcements. Mizuho raises Costco price target
• Neutral Sentiment: Some analysts view Costco’s membership-based, value-focused business as relatively defensive amid uncertainty, which may appeal to investors seeking resilience. Costco as a defensive investment

Costco Wholesale Trading Up 2.0%

NASDAQ:COST opened at $1,087.61 on Thursday. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50. The business has a fifty day moving average price of $960.23 and a 200-day moving average price of $973.88. The firm has a market capitalization of $481.95 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.21. The company had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. Costco Wholesale’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.87 earnings per share. Sell-side analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be given a $30.00 dividend. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio is presently 28.32%.

Costco Wholesale Profile

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.