Costco Wholesale Corporation $COST Shares Sold by Keybank National Association OH

Keybank National Association OH trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 308,920 shares of the retailer’s stock after selling 17,685 shares during the period. Costco Wholesale comprises about 0.9% of Keybank National Association OH’s investment portfolio, making the stock its 25th largest position. Keybank National Association OH’s holdings in Costco Wholesale were worth $281,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale 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 completion of the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 2,200 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president owned 7,134 shares in the company, valued at approximately $6,534,244.62. This trade represents a 23.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Key Headlines Impacting Costco Wholesale

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

• 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 board also reauthorized a $4 billion share-repurchase program. The payout is a substantial one-time return of capital; the buyback provides ongoing flexibility to return cash and support per-share results. Costco dividend and repurchase announcement
• Positive Sentiment: Costco’s digital sales reportedly rose 22.5% in October, outpacing store comparable sales, while a separate report says it overtook Kroger in a grocery-market-share ranking. The growth suggests its online channels and membership model are drawing more spending, although the articles do not establish how much of that is already reflected in the stock. Costco digital sales report Costco grocery-share report
• Neutral Sentiment: Tumwater’s council approved a development agreement for a new Costco store. It may support local expansion, but the article provides no financial details to indicate a material near-term effect on company results. Tumwater Costco development agreement
• Negative Sentiment: Freedom Broker downgraded Costco from “buy” to “hold” and set a $1,050 price target, below the referenced share price. The higher target versus its prior estimate softens the message, but the downgrade could weigh on sentiment. Freedom Broker rating information

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COST shares. Freedom Broker lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and upped their target price for the stock from $1,010.00 to $1,050.00 in a report on Tuesday. Mizuho cut their price target on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating for the company in a report on Friday, September 25th. DA Davidson lifted 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 report on Friday, September 25th. HSBC upgraded shares of Costco Wholesale to a “buy” rating in a research report on Friday, September 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Costco Wholesale from $1,130.00 to $1,100.00 in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,091.84.

Costco Wholesale Trading Down 0.0%

COST stock opened at $1,066.14 on Wednesday. The business has a fifty day moving average price of $957.28 and a 200 day moving average price of $973.36. 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 Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The stock has a market capitalization of $472.44 billion, a price-to-earnings ratio of 51.36, a P/E/G ratio of 4.71 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 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. The company had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.87 earnings per share. Analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

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.