Turtle Creek Wealth Advisors LLC Acquires 1,405 Shares of Costco Wholesale Corporation $COST

Turtle Creek Wealth Advisors LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,580 shares of the retailer’s stock after purchasing an additional 1,405 shares during the period. Costco Wholesale makes up approximately 1.0% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 29th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Costco Wholesale were worth $10,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Vanguard Group Inc. increased its position in Costco Wholesale by 1.7% during the second quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock worth $42,920,107,000 after acquiring an additional 711,560 shares during the period. State Street Corp increased its holdings in shares of Costco Wholesale by 0.5% during the 2nd quarter. State Street Corp now owns 18,325,416 shares of the retailer’s stock worth $18,141,062,000 after purchasing an additional 90,107 shares during the period. Geode Capital Management LLC increased its holdings in shares of Costco Wholesale by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 10,275,056 shares of the retailer’s stock worth $10,124,263,000 after purchasing an additional 150,844 shares during the period. Norges Bank acquired a new position in shares of Costco Wholesale during the second quarter valued at about $5,692,035,000. Finally, Invesco Ltd. increased its stake in Costco Wholesale by 9.8% during the second quarter. Invesco Ltd. now owns 4,291,557 shares of the retailer’s stock valued at $4,248,384,000 after acquiring an additional 383,887 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on COST. BTIG Research started coverage on Costco Wholesale in a research report on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Costco Wholesale in a research note on Monday, December 29th. Oppenheimer reduced their price objective on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Hovde Group initiated coverage on shares of Costco Wholesale in a research note on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, Daiwa Capital Markets dropped their price target on shares of Costco Wholesale from $947.00 to $917.00 and set a “neutral” rating for the company in a research report on Tuesday, December 16th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $996.00.

Costco Wholesale Stock Performance

NASDAQ COST opened at $963.61 on Tuesday. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,078.23. The company has a 50 day moving average of $895.66 and a 200-day moving average of $929.72. The company has a current ratio of 1.04, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The firm has a market cap of $427.72 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 5.77 and a beta of 1.02.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 EPS for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The business had revenue of $67.31 billion for the quarter, compared to analyst estimates of $67.03 billion. During the same period in the prior year, the company earned $4.04 EPS. Costco Wholesale’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $1.30 dividend. The ex-dividend date is Friday, January 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale’s dividend payout ratio (DPR) is 27.85%.

Insiders Place Their Bets

In other news, EVP Javier Polit sold 2,049 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $867.21, for a total transaction of $1,776,913.29. Following the transaction, the executive vice president directly owned 10,748 shares in the company, valued at approximately $9,320,773.08. This represents a 16.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 1,500 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $916.32, for a total transaction of $1,374,480.00. Following the sale, the executive vice president directly owned 8,240 shares in the company, valued at $7,550,476.80. This trade represents a 15.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,946 shares of company stock valued at $10,958,028 over the last three months. Company insiders own 0.10% of the company’s stock.

About Costco Wholesale

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.