Inspire Trust Co. N.A. Acquires 1,400 Shares of Costco Wholesale Corporation $COST

Inspire Trust Co. N.A. increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,100 shares of the retailer’s stock after acquiring an additional 1,400 shares during the period. Inspire Trust Co. N.A.’s holdings in Costco Wholesale were worth $7,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in COST. Contravisory Investment Management Inc. increased its holdings in shares of Costco Wholesale by 107.7% during the 3rd quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock valued at $25,000 after acquiring an additional 14 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Costco Wholesale during the second quarter valued at about $28,000. Burk Holdings LLC acquired a new position in Costco Wholesale in the 2nd quarter valued at approximately $30,000. Manning & Napier Advisors LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $30,000. Finally, John Boyer Inc. acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth approximately $32,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Trading Down 0.0%

Shares of COST opened at $1,066.14 on Wednesday. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $957.28 and a 200-day simple moving average of $973.36. The stock has a market cap of $472.44 billion, a PE ratio of 51.36, a PEG ratio of 4.71 and a beta of 0.85.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating the consensus estimate of $6.54 by $0.21. The business 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%. Costco Wholesale’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.87 EPS. On average, sell-side analysts predict that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio is currently 28.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Evercore restated an “outperform” rating on shares of Costco Wholesale in a research report on Tuesday, September 22nd. Robert W. Baird set a $1,175.00 price target on shares of Costco Wholesale in a report on Friday, September 25th. Tigress Financial increased their price objective on shares of Costco Wholesale from $1,065.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a report on Monday, September 28th. Finally, CICC Research started coverage on shares of Costco Wholesale in a report on Wednesday, October 21st. They set an “outperform” rating and a $1,050.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,091.84.

Insider Buying and Selling at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the executive vice president directly owned 7,134 shares in the company, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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

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.