Costco Wholesale Corporation $COST Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 7.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 45,532 shares of the retailer’s stock after buying an additional 3,134 shares during the quarter. Costco Wholesale comprises 3.4% of Cumberland Partners Ltd’s investment portfolio, making the stock its 7th largest holding. Cumberland Partners Ltd’s holdings in Costco Wholesale were worth $45,369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors increased its holdings in Costco Wholesale by 8.4% in the fourth quarter. World Investment Advisors now owns 20,081 shares of the retailer’s stock valued at $15,835,000 after purchasing an additional 1,560 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Costco Wholesale by 24.5% during the fourth quarter. Teacher Retirement System of Texas now owns 140,429 shares of the retailer’s stock worth $121,098,000 after buying an additional 27,625 shares during the last quarter. Curtis Advisory Group LLC boosted its holdings in Costco Wholesale by 56.7% during the fourth quarter. Curtis Advisory Group LLC now owns 4,535 shares of the retailer’s stock worth $3,911,000 after buying an additional 1,641 shares during the last quarter. Perryman Financial Advisory Inc. AD acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $9,300,000. Finally, Oak Ridge Investments LLC grew its position in shares of Costco Wholesale by 7.3% during the 4th quarter. Oak Ridge Investments LLC now owns 22,117 shares of the retailer’s stock worth $19,072,000 after buying an additional 1,496 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

More Costco Wholesale News

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.

Insider Activity

In related news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director directly owned 4,779 shares in the company, valued at $4,575,653.55. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on COST. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. TD Cowen restated a “buy” rating and set a $1,175.00 price objective on shares of Costco Wholesale in a report on Wednesday, June 3rd. Royal Bank Of Canada started coverage on shares of Costco Wholesale in a research note on Monday, July 13th. They issued a “sector perform” rating and a $1,000.00 target price for the company. Sanford C. Bernstein increased their target price on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Citigroup initiated coverage on shares of Costco Wholesale in a research report on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 price target on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,059.07.

Costco Wholesale Trading Up 1.0%

NASDAQ:COST opened at $935.03 on Friday. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The stock has a market capitalization of $414.67 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 4.48 and a beta of 0.88. The business’s 50-day simple moving average is $965.91 and its 200-day simple moving average is $979.93.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The business had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same period in the previous year, the company posted $4.28 earnings per share. Sell-side analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a $1.47 dividend. 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 29.58%.

Costco Wholesale 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.