Costco Wholesale Corporation $COST Stake Lowered by SVB Wealth LLC

SVB Wealth LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,137 shares of the retailer’s stock after selling 1,599 shares during the quarter. SVB Wealth LLC’s holdings in Costco Wholesale were worth $6,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of COST. Contravisory Investment Management Inc. grew its stake in Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock valued at $25,000 after purchasing an additional 14 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Costco Wholesale in the 2nd quarter worth about $28,000. Burk Holdings LLC acquired a new position in Costco Wholesale in the 2nd quarter worth about $30,000. Manning & Napier Advisors LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth about $30,000. Finally, John Boyer Inc. purchased a new stake in shares of Costco Wholesale during the 3rd quarter worth about $32,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale News Roundup

These are some of the COST news items that stood out recently:

• Neutral Sentiment: Bernstein raised its price target to $1,155 and maintained an Outperform rating, but noted that expectations ahead of earnings remain demanding. Article: Bernstein Makes Surprising Costco Call Before Earnings
• Negative Sentiment: A federal lawsuit alleging misleading discounts presents a potential legal and reputational overhang; the provided report does not detail the allegations or potential exposure. Article: Costco faces federal suit over misleading discounts
• Negative Sentiment: Valuation remains a risk: Freedom Broker downgraded Costco to Hold from Buy, citing the stock’s rich price, while an overbought RSI reading points to possible near-term momentum fatigue. Article: Costco Is Up 18% in a Year. Freedom Broker Says That’s Enough

Insider Activity

In other news, EVP Teresa A. Jones sold 900 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total value of $975,555.00. Following the sale, the executive vice president owned 5,698 shares in the company, valued at approximately $6,176,347.10. This trade represents a 13.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 4,200 shares of company stock valued at $4,044,632. 0.10% of the stock is owned by company insiders.

Costco Wholesale Trading Up 0.4%

Costco Wholesale stock opened at $1,092.21 on Friday. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,102.84. 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 firm has a market capitalization of $483.99 billion, a PE ratio of 52.61, a PEG ratio of 4.81 and a beta of 0.85. The business’s 50-day simple moving average is $963.50 and its 200-day simple moving average is $974.45.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. The firm 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%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.87 EPS. Equities research analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Deutsche Bank reduced their price target on Costco Wholesale from $1,091.00 to $1,079.00 and set a “buy” rating for the company in a report on Monday, September 28th. Mizuho dropped their price objective on Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. Sanford C. Bernstein raised their price objective on shares of Costco Wholesale from $1,143.00 to $1,155.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird set a $1,175.00 target price on shares of Costco Wholesale in a research note on Friday, September 25th. Finally, TD Cowen initiated coverage on shares of Costco Wholesale in a research note on Friday, October 30th. They issued a “strong-buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine 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 currently has an average rating of “Moderate Buy” and an average target price of $1,092.23.

Costco Wholesale Company Profile

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.