Costco Wholesale Corporation $COST Stock Sold by Kestra Investment Management LLC

Kestra Investment Management LLC reduced its stake in Costco Wholesale Corporation (NASDAQ:COST) by 61.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 616 shares of the retailer’s stock after selling 970 shares during the period. Kestra Investment Management LLC’s holdings in Costco Wholesale were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First National Bank of Hutchinson raised its stake in shares of Costco Wholesale by 0.9% during the first quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock worth $1,094,000 after purchasing an additional 10 shares during the last quarter. Frisch Financial Group Inc. grew its position in Costco Wholesale by 1.0% in the 1st quarter. Frisch Financial Group Inc. now owns 1,049 shares of the retailer’s stock valued at $1,045,000 after buying an additional 10 shares during the last quarter. Main Street Group LTD grew its position in Costco Wholesale by 0.8% in the 1st quarter. Main Street Group LTD now owns 1,226 shares of the retailer’s stock valued at $1,221,000 after buying an additional 10 shares during the last quarter. HORAN Wealth LLC grew its position in Costco Wholesale by 1.3% in the 1st quarter. HORAN Wealth LLC now owns 803 shares of the retailer’s stock valued at $769,000 after buying an additional 10 shares during the last quarter. Finally, SHUTTLEWORTH & Co increased its stake in Costco Wholesale by 0.4% in the 1st quarter. SHUTTLEWORTH & Co now owns 2,442 shares of the retailer’s stock valued at $2,433,000 after buying an additional 10 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COST shares. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research report on Monday, September 28th. Deutsche Bank reduced their target price on shares of Costco Wholesale from $1,091.00 to $1,079.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Tigress Financial lifted their target price on shares of Costco Wholesale from $1,065.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Finally, Mizuho dropped their price target on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,092.23.

Insiders Place Their Bets

In other news, EVP Claudine Adamo sold 2,200 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president directly owned 7,134 shares of the company’s stock, valued at $6,534,244.62. This represents a 23.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of the transaction, the executive vice president owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This represents a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Recent Costco Wholesale Headlines

These are some of the COST headlines that stood out recently:

• Positive Sentiment: The board also reauthorized a $4 billion stock repurchase program, reinforcing Costco’s capital-return plans. Bernstein raised its price target to $1,155 from $1,143 and maintained an Outperform rating; Mizuho also raised its target following the announcements. Mizuho raises Costco price target
• Neutral Sentiment: Some analysts view Costco’s membership-based, value-focused business as relatively defensive amid uncertainty, which may appeal to investors seeking resilience. Costco as a defensive investment
• Negative Sentiment: Valuation is a counterweight: Freedom Broker downgraded Costco from Buy to Hold, citing the stock’s valuation. Other commentary also warns that the premium price leaves limited room for disappointment, so the special dividend alone may not justify buying at current levels. Freedom Broker downgrade

Costco Wholesale Stock Up 2.0%

COST opened at $1,087.61 on Thursday. 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 business has a 50 day simple moving average of $960.23 and a 200-day simple moving average of $973.88. The stock has a market capitalization of $481.95 billion, a P/E ratio of 52.39, a P/E/G ratio of 4.71 and a beta of 0.85. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month 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 for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. During the same quarter in the prior year, the company posted $5.87 earnings per share. Costco Wholesale’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be issued a $30.00 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is 28.32%.

Costco Wholesale Company Profile

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.