Costco Wholesale Corporation $COST Holdings Decreased by Phoenix Financial Ltd.

Phoenix Financial Ltd. lowered its stake in Costco Wholesale Corporation (NASDAQ:COST) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,162 shares of the retailer’s stock after selling 888 shares during the quarter. Phoenix Financial Ltd.’s holdings in Costco Wholesale were worth $7,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in COST. State Street Corp increased its holdings in Costco Wholesale by 31.7% during the 2nd 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 during the period. Bank of America Corp DE lifted its stake in Costco Wholesale by 11.5% in 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 in the last quarter. Fisher Asset Management LLC boosted its holdings in Costco Wholesale by 1.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,291,669 shares of the retailer’s stock valued at $2,996,538,000 after purchasing an additional 38,629 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Costco Wholesale by 5.5% in 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 valued at $2,870,314,000 after purchasing an additional 160,893 shares during the period. Finally, Amundi boosted its holdings in Costco Wholesale by 11.1% in the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after purchasing an additional 283,360 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on COST shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, October 9th. Mizuho reduced their target price on Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Friday, September 25th. Roth Capital restated a “sell” rating and set a $781.00 target price on shares of Costco Wholesale in a research report on Friday, September 25th. UBS Group restated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, September 17th. Finally, Wells Fargo & Company lowered their price target on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,092.23.

Costco Wholesale News Summary

Here’s some of the latest news about COST:

• Neutral Sentiment: Two executives, Teresa Jones and Sarah Catherine George, disclosed sales of 900 and 756 shares, respectively. Insider sales can attract attention, but the reports do not establish that the transactions reflect a change in business outlook. Article: Costco insider trades
• Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?
• Negative Sentiment: A recall of certain Kirkland Signature whipped cream cans over possible cleaning-chemical contamination creates a limited product and reputational risk. Article: Thanksgiving staple recalled at Costco over possible contamination

Insider Transactions at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of the company’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 sale, the executive vice president directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Catherine George sold 756 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $1,096.01, for a total transaction of $828,583.56. Following the transaction, the executive vice president directly owned 3,112 shares of the company’s stock, valued at $3,410,783.12. This represents a 19.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,956 shares of company stock valued at $4,873,216 in the last three months. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Trading Up 1.3%

Shares of COST traded up $14.00 during trading hours on Friday, hitting $1,106.21. The company had a trading volume of 1,873,135 shares, compared to its average volume of 2,385,142. The firm has a market cap of $490.19 billion, a P/E ratio of 53.29, a P/E/G ratio of 4.82 and a beta of 0.85. The stock’s 50 day moving average price is $967.12 and its 200 day moving average price is $975.13. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 52-week low of $844.06 and a 52-week high of $1,109.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The business had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. During the same quarter last year, the firm earned $5.87 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

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

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.