Costco Wholesale Corporation $COST Shares Acquired by Claro Advisors Inc.

Claro Advisors Inc. grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 33.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,250 shares of the retailer’s stock after buying an additional 820 shares during the period. Claro Advisors Inc.’s holdings in Costco Wholesale were worth $2,958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COST. Bank of America Corp DE bought a new position in shares of Costco Wholesale in the 2nd quarter worth about $6,781,946,000. State Street Corp boosted its stake 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. Legal & General Group Plc bought a new stake in Costco Wholesale during the second quarter worth about $2,362,188,000. Ascentis Wealth Management LLC grew its holdings in Costco Wholesale by 103,637.0% in the second 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 period. Finally, Corient Private Wealth LP purchased a new stake in Costco Wholesale in the second quarter worth about $726,689,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale News Roundup

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

• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an Overweight rating, citing potential upside from the current level. JPMorgan analyst recommendations
• Positive Sentiment: October net sales increased 12.6% year over year to $24.50 billion. U.S. comparable sales also rose 12.6%; Bank of America noted that U.S. comps were up 8.1% after adjusting for gasoline price changes and maintained its Buy rating. The strong sales momentum is a key near-term catalyst. Costco October sales results Bank of America rating and U.S. comparable sales
• Negative Sentiment: Valuation concerns persist after Costco’s rally: some commentary argues the stock’s elevated earnings multiple leaves limited room for disappointment. Citi maintained a Hold rating and $1,020 price target, below the recently quoted share price. Citi rating and price target Costco valuation discussion

Costco Wholesale Price Performance

COST opened at $1,065.59 on Friday. The firm has a market cap of $472.19 billion, a PE ratio of 51.33, a P/E/G ratio of 4.47 and a beta of 0.85. The stock has a 50-day moving average price of $950.04 and a 200-day moving average price of $972.05. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. 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 (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same period in the prior year, the firm posted $5.87 EPS. Costco Wholesale’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side 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. Shareholders of record on Friday, October 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.88 annualized dividend and a yield of 0.6%. Costco Wholesale’s payout ratio is 28.32%.

Insider Activity at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction that occurred 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 owned 3,094 shares in the company, valued at $2,964,701.74. This represents 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 firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 7,134 shares of the company’s stock, valued at $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. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COST shares. Evercore reaffirmed an “outperform” rating on shares of Costco Wholesale in a research note on Tuesday, September 22nd. Tigress Financial boosted their price target on Costco Wholesale from $1,065.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Oppenheimer reissued an “outperform” rating and issued a $1,160.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 16th. Truist Financial cut their price target on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a research note on Friday, September 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,090.55.

About Costco Wholesale

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.