Envestnet Asset Management Inc. Raises Stake in Costco Wholesale Corporation $COST

Envestnet Asset Management Inc. boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 68.9% in the second quarter, HoldingsChannel reports. The fund owned 1,042,046 shares of the retailer’s stock after acquiring an additional 424,982 shares during the period. Envestnet Asset Management Inc.’s holdings in Costco Wholesale were worth $974,803,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COST. Sarasin & Partners LLP boosted its stake in Costco Wholesale by 6.9% during the 2nd quarter. Sarasin & Partners LLP now owns 214,194 shares of the retailer’s stock valued at $200,372,000 after purchasing an additional 13,795 shares during the last quarter. Perryman Financial Advisory Inc. AD purchased a new position in shares of Costco Wholesale in the fourth quarter worth $9,300,000. Nissay Asset Management Corp Japan increased its holdings in Costco Wholesale by 4.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 158,416 shares of the retailer’s stock worth $148,193,000 after buying an additional 6,200 shares in the last quarter. Hyperion Asset Management Ltd lifted its stake in Costco Wholesale by 9.0% during the 2nd quarter. Hyperion Asset Management Ltd now owns 68,762 shares of the retailer’s stock valued at $64,325,000 after acquiring an additional 5,656 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $1,413,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded up $5.29 during midday trading on Wednesday, hitting $904.70. The company had a trading volume of 2,279,427 shares, compared to its average volume of 2,182,632. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,096.50. The company has a fifty day moving average of $935.54 and a two-hundred day moving average of $969.45. The company has a market cap of $401.22 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 3.77 and a beta of 0.86. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a $1.47 dividend. The ex-dividend date was 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 presently 29.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research report on Monday, June 1st. HC Wainwright reiterated a “buy” rating on shares of Costco Wholesale in a research report on Monday, June 1st. Freedom Broker raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $1,030.00 target price on the stock in a report on Tuesday, September 8th. Oppenheimer reissued an “outperform” rating and issued a $1,160.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 16th. Finally, UBS Group restated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, September 17th. Twenty-two 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’s stock. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,052.65.

Trending Headlines about Costco Wholesale

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

• Positive Sentiment: Analysts remain constructive: BTIG reaffirmed a Buy rating and a $1,125 price target, citing Costco’s durable traffic, membership and sales growth. BTIG reiterates Buy rating and $1,125 price target
• Positive Sentiment: Q4 expectations remain strong, with one preview forecasting approximately $94 billion in sales and $6.59 in earnings per share. Robust traffic, engaged members, digital momentum and membership-fee income could support the results. Costco Q4 preview
• Positive Sentiment: Costco’s nationwide same-day delivery rollout through DoorDash expands member convenience and could increase order frequency, digital engagement and sales reach. However, delivery economics will need to be demonstrated. Costco nationwide same-day delivery
• Neutral Sentiment: Higher gasoline prices may lift Costco’s fuel revenue and traffic, but they can also pressure consumers’ discretionary budgets. Investors will watch the net effect in the earnings report. Costco Q4 preview and gasoline prices
• Neutral Sentiment: Options markets imply elevated volatility around earnings, increasing the likelihood of a substantial post-report move. A potential special dividend is also a topic of investor speculation, not a confirmed announcement. Expected Costco earnings move
• Negative Sentiment: The benefit from Costco’s 2024 membership-fee increase may be largely reflected in results after Thursday’s report. Because membership fees contribute roughly half of operating income, slower fee-income growth could weigh on future earnings momentum. Costco membership fee boost
• Negative Sentiment: Investors remain concerned about Costco’s premium valuation, margin pressure and macroeconomic uncertainty. Commentary that the stock is “acting poorly” reflects weakened sentiment ahead of the earnings catalyst. Buy, hold or sell Costco before earnings

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally competitive prices. Its product range includes groceries, fresh foods, apparel, appliances, electronics, furniture, jewelry, hardware, and seasonal goods, along with private-label products sold under the Kirkland Signature brand.

The company also provides a variety of ancillary services, including gasoline stations, pharmacies, optical centers, hearing-aid centers, food courts, tire centers, and travel services.