2,752 Costco Wholesale Corporation $COST Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 56.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,148 shares of the retailer’s stock after selling 2,752 shares during the period. Pinnacle Bancorp Inc.’s holdings in Costco Wholesale were worth $1,956,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Cypress Wealth Services LLC increased its holdings in Costco Wholesale by 9.0% during the 3rd quarter. Cypress Wealth Services LLC now owns 5,691 shares of the retailer’s stock worth $5,325,000 after purchasing an additional 468 shares in the last quarter. Obermeyer Wealth Partners lifted its stake in Costco Wholesale by 1.2% in the 3rd quarter. Obermeyer Wealth Partners now owns 3,443 shares of the retailer’s stock valued at $3,135,000 after acquiring an additional 40 shares in the last quarter. Cardinal Capital Management lifted its stake in Costco Wholesale by 1.3% in the 3rd quarter. Cardinal Capital Management now owns 20,887 shares of the retailer’s stock valued at $19,014,000 after acquiring an additional 271 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its position in Costco Wholesale by 35.6% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 628 shares of the retailer’s stock worth $625,000 after acquiring an additional 165 shares during the last quarter. Finally, Flavin Financial Services Inc. boosted its position in Costco Wholesale by 16.1% during the 3rd quarter. Flavin Financial Services Inc. now owns 2,191 shares of the retailer’s stock worth $1,995,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. Bank of America decreased their price target on shares of Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a report on Monday, September 28th. Royal Bank Of Canada restated a “sector perform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a report on Friday, October 9th. JPMorgan Chase & Co. decreased their target price on shares of Costco Wholesale from $1,100.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, September 25th. Finally, CICC Research started coverage on shares of Costco Wholesale in a research note on Wednesday. They issued an “outperform” rating and a $1,050.00 price target on the stock. Twenty-five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,086.19.

More Costco Wholesale News

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

• Positive Sentiment: Analyst optimism: Tigress Financial raised its price target to $1,250, while CICC initiated coverage with an “outperform” rating. These actions reinforce the bullish view that Costco’s membership income, sales growth and customer loyalty can support further gains. Tigress Financial raises target for Costco Wholesale stock
• Positive Sentiment: Long-term performance and growth potential: A retrospective analysis said $1,000 invested in Costco 10 years ago would have grown to $8,018, substantially outperforming the S&P 500. Another report highlighted potential upside surprises, including continued membership growth and resilient consumer demand. Costco Turned $1,000 Into $8,018
• Positive Sentiment: Potential stock split: Costco’s CEO said a stock split is regularly discussed by the board. No split was announced, but speculation could improve accessibility for employees and smaller investors following the stock’s strong appreciation. Costco’s Last Stock Split Was in 2000
• Neutral Sentiment: Valuation remains a concern: Costco trades at the highest earnings multiple among several major retailers, despite having a relatively low operating margin. Its premium valuation leaves less room for disappointment if growth or membership trends slow. Are You Overpaying For Costco Stock Versus Its Rivals?
• Negative Sentiment: Competitive pressure is increasing: Kroger plans to spend $5 billion on lower prices and technology after acknowledging market-share losses to Walmart and Costco. More aggressive grocery pricing could pressure Costco’s traffic, margins or competitive advantage. Kroger Is Spending $5 Billion to Cut Prices

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP William Richard Wilcox sold 1,100 shares of the company’s stock in a transaction on Tuesday, October 13th. The shares were 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 of the company’s stock, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly 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. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $1,018.21 on Friday. The stock has a 50 day moving average price of $937.12 and a 200 day moving average price of $962.93. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. The stock has a market capitalization of $451.20 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 4.27 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. The firm had revenue of $95.72 billion during 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%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $5.87 earnings per share. Analysts predict that Costco Wholesale Corporation will post 22.70 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, November 13th. Investors of record on Friday, October 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

Costco Wholesale Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.