Costco Wholesale Corporation $COST is Jessup Wealth Management Inc’s 8th Largest Position

Jessup Wealth Management Inc boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 184.3% in the first quarter, HoldingsChannel reports. The firm owned 10,974 shares of the retailer’s stock after buying an additional 7,114 shares during the period. Costco Wholesale accounts for about 4.0% of Jessup Wealth Management Inc’s holdings, making the stock its 8th biggest holding. Jessup Wealth Management Inc’s holdings in Costco Wholesale were worth $10,935,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Costco Wholesale in the fourth quarter valued at $27,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $28,000. Entrust Financial LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at about $31,000. Finally, Joseph Group Capital Management purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale News Summary

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

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation (NASDAQ:COST) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Costco Wholesale Price Performance

COST opened at $935.03 on Monday. The company has a market cap of $414.67 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 4.52 and a beta of 0.88. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,096.50. The company has a 50-day moving average price of $965.91 and a 200 day moving average price of $980.66. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The firm had revenue of $70.53 billion during the quarter, compared to analyst estimates of $70.12 billion. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Sell-side analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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 $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, July 24th. Costco Wholesale’s dividend payout ratio (DPR) is 29.58%.

Analyst Upgrades and Downgrades

COST has been the subject of a number of analyst reports. Bank of America upped their price target on Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Guggenheim reissued a “neutral” rating on shares of Costco Wholesale in a report on Monday, June 1st. Mizuho set a $1,100.00 price objective on Costco Wholesale in a research report on Monday, June 1st. Citigroup started coverage on Costco Wholesale in a research note on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 target price for the company. Finally, Royal Bank Of Canada started coverage on Costco Wholesale in a research report on Monday, July 13th. They set a “sector perform” rating and a $1,000.00 target price on the stock. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,059.07.

Insider Activity

In other news, Director Kenneth D. Denman sold 885 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the sale, the director directly owned 4,779 shares of the company’s stock, valued at $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by corporate insiders.

About Costco Wholesale

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.