Kornitzer Capital Management Inc. KS Has $96.30 Million Stock Position in Costco Wholesale Corporation $COST

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,644 shares of the retailer’s stock after selling 1,302 shares during the quarter. Costco Wholesale makes up about 2.1% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 6th largest position. Kornitzer Capital Management Inc. KS’s holdings in Costco Wholesale were worth $96,299,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Cedar Mountain Advisors LLC grew its position in Costco Wholesale by 3.4% during the first quarter. Cedar Mountain Advisors LLC now owns 392 shares of the retailer’s stock valued at $391,000 after buying an additional 13 shares during the period. Manning & Napier Advisors LLC lifted its position in shares of Costco Wholesale by 750.0% during the first quarter. Manning & Napier Advisors LLC now owns 34 shares of the retailer’s stock worth $34,000 after acquiring an additional 30 shares in the last quarter. Carmel Capital Partners LLC grew its position in shares of Costco Wholesale by 30.4% in the first quarter. Carmel Capital Partners LLC now owns 686 shares of the retailer’s stock valued at $684,000 after purchasing an additional 160 shares in the last quarter. DMC Group LLC grew its holdings in Costco Wholesale by 0.6% during the 1st quarter. DMC Group LLC now owns 1,890 shares of the retailer’s stock valued at $1,883,000 after buying an additional 11 shares in the last quarter. Finally, Costello Asset Management INC boosted its position in shares of Costco Wholesale by 3.1% in the first quarter. Costello Asset Management INC now owns 1,954 shares of the retailer’s stock valued at $1,947,000 after acquiring an additional 58 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction that occurred on 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 owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Monday, June 1st. TD Cowen reaffirmed a “buy” rating and set a $1,175.00 price target on shares of Costco Wholesale in a research note on Wednesday, June 3rd. Citigroup began coverage on Costco Wholesale in a report on Thursday, June 18th. They issued a “neutral” rating and a $1,020.00 price objective for the company. Bank of America increased their price objective on Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Roth Capital raised their price objective on Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a report on Friday, May 29th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,061.10.

Costco Wholesale Trading Up 0.4%

NASDAQ COST traded up $3.28 during trading on Friday, hitting $916.25. 2,099,105 shares of the company’s stock traded hands, compared to its average volume of 2,488,933. The stock has a fifty day moving average of $983.66 and a two-hundred day moving average of $975.25. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,096.50. The firm has a market cap of $406.34 billion, a P/E ratio of 46.09, a PEG ratio of 4.42 and a beta of 0.88. 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 released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). The company had revenue of $70.53 billion during the quarter, compared to analysts’ expectations of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same quarter in the prior year, the firm posted $4.28 EPS. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 20.38 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Key Headlines Impacting Costco Wholesale

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

• Positive Sentiment: Analysts remained generally constructive, with multiple firms reiterating Buy/Overweight views and price targets around or above current levels, suggesting Wall Street still sees upside for Costco despite the recent pullback.
• Positive Sentiment: Costco announced a quarterly dividend of $1.47 per share, reinforcing its shareholder-return profile. Costco stock overview and dividend note
• Positive Sentiment: Management also expanded its digital wallet feature, which could improve checkout speed and customer convenience. Costco makes payment change that could speed up checkout for members
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at zero shares, offering little signal for near-term trading.
• Negative Sentiment: Investors are focusing on a slowdown in June sales momentum and weaker adjusted comparable-sales growth, which raises concern that Costco may be losing some near-term growth speed. Reuters article reference
• Negative Sentiment: Competition is intensifying as Walmart and Kroger cut prices, increasing pressure on Costco’s value proposition and margin outlook.
• Negative Sentiment: New headlines about a class-action lawsuit alleging Costco sold protein powder with heavy metals add legal and reputational risk. Consumers sue Costco over heavy metals in protein powder

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.