Phoenix Financial Ltd. Sells 888 Shares of Costco Wholesale Corporation $COST

Phoenix Financial Ltd. lowered its stake in Costco Wholesale Corporation (NASDAQ:COST) by 9.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,162 shares of the retailer’s stock after selling 888 shares during the quarter. Phoenix Financial Ltd.’s holdings in Costco Wholesale were worth $7,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Costco Wholesale by 24.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 191 shares of the retailer’s stock worth $174,000 after acquiring an additional 38 shares during the last quarter. Danske Bank A S increased its holdings in Costco Wholesale by 2.0% in the 3rd quarter. Danske Bank A S now owns 359,569 shares of the retailer’s stock valued at $327,330,000 after acquiring an additional 6,994 shares during the last quarter. Hansen & Associates Financial Group Inc. increased its holdings in Costco Wholesale by 21.5% in the 3rd quarter. Hansen & Associates Financial Group Inc. now owns 1,067 shares of the retailer’s stock valued at $1,011,000 after acquiring an additional 189 shares during the last quarter. Silver Oak Advisory Group Inc. lifted its stake in Costco Wholesale by 2.4% in the 3rd quarter. Silver Oak Advisory Group Inc. now owns 991 shares of the retailer’s stock worth $902,000 after purchasing an additional 23 shares in the last quarter. Finally, McKinney Capital Management LLC lifted its stake in Costco Wholesale by 11.8% in the 3rd quarter. McKinney Capital Management LLC now owns 8,229 shares of the retailer’s stock worth $7,491,000 after purchasing an additional 868 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.3%

NASDAQ COST traded up $14.00 during trading on Friday, hitting $1,106.21. The stock had a trading volume of 1,873,135 shares, compared to its average volume of 2,385,142. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,109.50. The stock has a 50 day simple moving average of $967.12 and a 200 day simple moving average of $975.13. The stock has a market capitalization of $490.19 billion, a price-to-earnings ratio of 53.29, a P/E/G ratio of 4.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06.

Costco Wholesale (NASDAQ:COST) last released its earnings results 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 business had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. During the same quarter last year, the firm posted $5.87 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 7,134 shares of the company’s stock, valued at $6,534,244.62. The trade was a 23.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,956 shares of company stock worth $4,873,216. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COST has been the topic of several research reports. Wells Fargo & Company reduced their target price on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Tigress Financial increased their price target on Costco Wholesale from $1,065.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Evercore reissued an “outperform” rating on shares of Costco Wholesale in a research note on Tuesday, September 22nd. HSBC upgraded Costco Wholesale to a “buy” rating in a report on Friday, September 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,092.23.

Key Costco Wholesale News

These are some of the COST news items that stood out recently:

• Positive Sentiment: Costco declared a one-time $30-per-share special dividend, totaling about $13.3 billion and payable December 4, and authorized a new $4 billion share repurchase program. The capital returns are supporting investor demand and underscore the company’s cash-generation strength. Article: Costco’s Record $30 Dividend Shows Just How Strong Its Cash Machine Is
• Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?
• Negative Sentiment: A recall of certain Kirkland Signature whipped cream cans over possible cleaning-chemical contamination creates a limited product and reputational risk. Article: Thanksgiving staple recalled at Costco over possible contamination

Costco Wholesale 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.