Ibex Wealth Advisors Takes Position in Costco Wholesale Corporation $COST

Ibex Wealth Advisors purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 986 shares of the retailer’s stock, valued at approximately $982,000.

A number of other large investors have also recently made changes to their positions in COST. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Costco Wholesale during the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter worth $28,000. Lifetime Wealth Management P.C. bought a new stake in shares of Costco Wholesale in the fourth quarter worth $28,000. Entrust Financial LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at $31,000. Finally, Joseph Group Capital Management purchased a new stake in Costco Wholesale during the fourth quarter valued at $33,000. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the sale, the director owned 4,779 shares in the company, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Trading Down 4.2%

Costco Wholesale stock opened at $912.97 on Friday. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. The firm’s 50 day moving average price is $985.31 and its 200-day moving average price is $975.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The stock has a market cap of $404.88 billion, a P/E ratio of 45.92, a PEG ratio of 4.62 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The company had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. During the same period last year, the company earned $4.28 EPS. On average, equities analysts predict that Costco Wholesale Corporation will post 20.38 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, July 24th. Costco Wholesale’s dividend payout ratio is currently 29.58%.

Key Stories Impacting Costco Wholesale

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

• Positive Sentiment: Bank of America and other analysts reiterated bullish views, saying Costco’s value-focused model and affluent membership base should continue to support market share gains. Costco shares fall after June sales update, Bank of America remains bullish
• Positive Sentiment: Costco posted strong June net sales of $29.24 billion and continued to see robust digital and U.S. demand, which suggests the core business remains healthy. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Neutral Sentiment: Costco declared a quarterly dividend, which is supportive for income investors but unlikely to be a major near-term stock mover. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Negative Sentiment: A proposed class-action lawsuit alleging Costco’s protein powder contained toxic heavy metals could create legal and reputational overhang. Costco faces class-action lawsuit alleging protein powder was laced with toxic heavy metals

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COST. Truist Financial raised their price objective on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the stock a “hold” rating in a report on Friday, May 29th. Weiss Ratings downgraded shares of Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Mizuho set a $1,100.00 price target on shares of Costco Wholesale in a research note on Monday, June 1st. Citigroup started coverage on shares of Costco Wholesale in a research report on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,061.10.

Costco Wholesale Profile

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.