Costco Wholesale Corporation $COST Stock: Inspire Trust Co. N.A. Raises Stake

Inspire Trust Co. N.A. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 20.9% during the third quarter, Holdings Channel.com reports. The firm owned 8,100 shares of the retailer’s stock after acquiring an additional 1,400 shares during the period. Inspire Trust Co. N.A.’s holdings in Costco Wholesale were worth $7,374,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COST. Bank of America Corp DE acquired a new stake in shares of Costco Wholesale in the second quarter valued at $6,781,946,000. State Street Corp raised its holdings in shares of Costco Wholesale by 31.7% in the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after buying an additional 5,749,362 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Costco Wholesale in the second quarter valued at about $2,362,188,000. Ascentis Wealth Management LLC lifted its position in Costco Wholesale by 103,637.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after buying an additional 2,497,652 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new position in Costco Wholesale during the 2nd quarter worth about $726,689,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the completion of the sale, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total value of $2,015,046.00. Following the transaction, the executive vice president owned 7,134 shares of the company’s stock, valued at $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COST shares. Truist Financial lowered their price objective on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research report on Friday, September 25th. DA Davidson raised their price target on shares of Costco Wholesale from $1,000.00 to $1,040.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Robert W. Baird set a $1,175.00 price objective on shares of Costco Wholesale in a research report on Friday, September 25th. Raymond James Financial reduced their price objective on Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. Finally, CICC Research began coverage on Costco Wholesale in a report on Wednesday, October 21st. They set an “outperform” rating and a $1,050.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,091.84.

Costco Wholesale Stock Down 0.0%

Shares of NASDAQ:COST opened at $1,066.14 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. The stock has a market cap of $472.44 billion, a price-to-earnings ratio of 51.36, a P/E/G ratio of 4.71 and a beta of 0.85. The company has a 50 day moving average of $957.28 and a 200-day moving average of $973.36. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The firm had revenue of $95.72 billion for the quarter, compared to analysts’ expectations of $94.97 billion. During the same period last year, the firm earned $5.87 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be given a $30.00 dividend. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

More Costco Wholesale News

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

• Positive Sentiment: Costco declared a $30-per-share special cash dividend, totaling about $13.3 billion, payable December 4 to shareholders of record November 24. The board also reauthorized a $4 billion share-repurchase program. The payout is a substantial one-time return of capital; the buyback provides ongoing flexibility to return cash and support per-share results. Costco dividend and repurchase announcement
• Positive Sentiment: Costco’s digital sales reportedly rose 22.5% in October, outpacing store comparable sales, while a separate report says it overtook Kroger in a grocery-market-share ranking. The growth suggests its online channels and membership model are drawing more spending, although the articles do not establish how much of that is already reflected in the stock. Costco digital sales report Costco grocery-share report
• Neutral Sentiment: Tumwater’s council approved a development agreement for a new Costco store. It may support local expansion, but the article provides no financial details to indicate a material near-term effect on company results. Tumwater Costco development agreement
• Negative Sentiment: Freedom Broker downgraded Costco from “buy” to “hold” and set a $1,050 price target, below the referenced share price. The higher target versus its prior estimate softens the message, but the downgrade could weigh on sentiment. Freedom Broker rating information

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.