Costco Wholesale Corporation $COST Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 313,436 shares of the retailer’s stock after selling 14,091 shares during the quarter. Fifth Third Bancorp’s holdings in Costco Wholesale were worth $285,333,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its position in Costco Wholesale by 31.7% during the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $22,359,224,000 after acquiring an additional 5,749,362 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Costco Wholesale by 11.5% during the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock worth $7,488,203,000 after purchasing an additional 773,651 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Costco Wholesale by 5.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock worth $2,870,314,000 after purchasing an additional 160,893 shares during the last quarter. Amundi increased its stake in shares of Costco Wholesale by 11.1% during the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock worth $2,828,881,000 after purchasing an additional 283,360 shares during the last quarter. Finally, Ascentis Wealth Management LLC increased its stake in shares of Costco Wholesale by 103,637.0% during the 2nd 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. Institutional investors and hedge funds own 68.48% of the company’s stock.

Top Costco Wholesale Stories

Investors following COST have been watching these stories:

• 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
• Negative Sentiment: Valuation is a counterweight: Freedom Broker downgraded Costco from Buy to Hold, citing the stock’s valuation. Other commentary also warns that the premium price leaves limited room for disappointment, so the special dividend alone may not justify buying at current levels. Freedom Broker downgrade

Insider Transactions at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the completion of the sale, the executive vice president owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 2,200 shares of the company’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 completion of the transaction, the executive vice president owned 7,134 shares in the company, valued at $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COST. Roth Capital reiterated a “sell” rating and issued a $781.00 target price on shares of Costco Wholesale in a research note on Friday, September 25th. Argus reiterated a “buy” rating and set a $1,230.00 price target on shares of Costco Wholesale in a report on Monday, September 28th. DA Davidson boosted their price target on Costco Wholesale from $1,000.00 to $1,040.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Bank of America dropped their price objective on Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating on the stock in a research note on Wednesday, September 16th. Finally, Wells Fargo & Company dropped their price objective on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,092.23.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,087.61 on Thursday. The stock has a market cap of $481.95 billion, a P/E ratio of 52.13, a PEG ratio of 4.71 and a beta of 0.85. The stock has a 50 day simple moving average of $960.23 and a 200 day simple moving average of $973.88. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $94.97 billion. During the same period in the prior year, the firm posted $5.87 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts anticipate 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 special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $30.00 per share. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

Costco Wholesale Company 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.