Kestra Advisory Services LLC Raises Stake in Costco Wholesale Corporation $COST

Kestra Advisory Services LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,154 shares of the retailer’s stock after acquiring an additional 8,326 shares during the period. Kestra Advisory Services LLC’s holdings in Costco Wholesale were worth $112,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Palisade Asset Management LLC increased its position in Costco Wholesale by 1.4% during the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer’s stock valued at $605,000 after buying an additional 10 shares in the last quarter. Graybill Wealth Management LTD. boosted its holdings in Costco Wholesale by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer’s stock worth $2,754,000 after acquiring an additional 10 shares in the last quarter. Wealth Effects LLC grew its stake in shares of Costco Wholesale by 1.2% in the first quarter. Wealth Effects LLC now owns 874 shares of the retailer’s stock worth $871,000 after acquiring an additional 10 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of Costco Wholesale by 1.8% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer’s stock worth $549,000 after acquiring an additional 10 shares during the last quarter. Finally, Lbmc Investment Advisors LLC grew its stake in shares of Costco Wholesale by 0.5% in the fourth quarter. Lbmc Investment Advisors LLC now owns 2,041 shares of the retailer’s stock worth $1,760,000 after acquiring an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the sale, the director directly owned 4,779 shares in the company, valued at $4,575,653.55. The trade was a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup assumed coverage on shares of Costco Wholesale in a research note on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Monday, June 1st. Finally, Truist Financial upped their target price on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the stock a “hold” rating in a research note on Friday, May 29th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,061.10.

Costco Wholesale Trading Down 4.2%

Shares of COST stock opened at $912.97 on Friday. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,096.50. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $985.31 and its 200 day moving average is $975.67. The stock has a market capitalization of $404.88 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.62 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last announced 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 company had revenue of $70.53 billion for the quarter, compared to analysts’ expectations of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same quarter in the prior year, the firm posted $4.28 earnings per share. Research analysts expect that Costco Wholesale Corporation will post 20.38 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 29.58%.

Costco Wholesale News Summary

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

• Positive Sentiment: Bank of America and other analysts reiterated bullish views, saying Costco’s value-focused model and affluent membership base should continue to support market share gains. Costco shares fall after June sales update, Bank of America remains bullish
• Positive Sentiment: Costco posted strong June net sales of $29.24 billion and continued to see robust digital and U.S. demand, which suggests the core business remains healthy. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Neutral Sentiment: Costco declared a quarterly dividend, which is supportive for income investors but unlikely to be a major near-term stock mover. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Negative Sentiment: A proposed class-action lawsuit alleging Costco’s protein powder contained toxic heavy metals could create legal and reputational overhang. Costco faces class-action lawsuit alleging protein powder was laced with toxic heavy metals

About Costco Wholesale

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.