Lazard Asset Management LLC Boosts Stock Position in Costco Wholesale Corporation $COST

Lazard Asset Management LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 70.5% during the 1st quarter, HoldingsChannel reports. The firm owned 180,870 shares of the retailer’s stock after buying an additional 74,800 shares during the period. Lazard Asset Management LLC’s holdings in Costco Wholesale were worth $180,224,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC grew its stake in shares of Costco Wholesale by 1.4% in the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer’s stock worth $605,000 after buying an additional 10 shares in the last quarter. Graybill Wealth Management LTD. raised its position in shares of Costco Wholesale by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer’s stock valued at $2,754,000 after buying an additional 10 shares in the last quarter. Wealth Effects LLC raised its position in shares of Costco Wholesale by 1.2% during the 1st quarter. Wealth Effects LLC now owns 874 shares of the retailer’s stock valued at $871,000 after buying an additional 10 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of Costco Wholesale by 1.8% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer’s stock valued at $549,000 after acquiring an additional 10 shares during the last quarter. Finally, First National Bank of Hutchinson lifted its holdings in shares of Costco Wholesale by 0.9% in the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock valued at $1,094,000 after acquiring an additional 10 shares during the last quarter. Hedge funds and other 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: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation (NASDAQ:COST) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Analyst Upgrades and Downgrades

COST has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,110.00 to $1,100.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Oppenheimer lifted their target price on Costco Wholesale from $1,100.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Roth Capital boosted their target price on Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada started coverage on Costco Wholesale in a research report on Monday, July 13th. They set a “sector perform” rating and a $1,000.00 target price on the stock. Twenty-two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,059.07.

Insider Transactions at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 4,779 shares of the company’s stock, valued at $4,575,653.55. This trade represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of COST stock opened at $935.03 on Monday. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50. The company has a market capitalization of $414.67 billion, a P/E ratio of 47.03, a P/E/G ratio of 4.52 and a beta of 0.88. The company’s 50-day simple moving average is $965.91 and its two-hundred day simple moving average is $980.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The firm had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same period last year, the firm earned $4.28 earnings per share. As a group, equities analysts anticipate that Costco Wholesale Corporation will post 20.42 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend 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%.

Costco Wholesale Company 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.