Costco Wholesale Corporation $COST Stock: Kestra Advisory Services LLC Increases Stake

Kestra Advisory Services LLC grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 8.8% in the third quarter, Holdings Channel.com reports. The fund owned 122,178 shares of the retailer’s stock after buying an additional 9,867 shares during the period. Kestra Advisory Services LLC’s holdings in Costco Wholesale were worth $111,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Sarasin & Partners LLP boosted its holdings in Costco Wholesale by 6.9% during the second quarter. Sarasin & Partners LLP now owns 214,194 shares of the retailer’s stock valued at $200,372,000 after purchasing an additional 13,795 shares in the last quarter. Silvant Capital Management LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $16,013,000. Nissay Asset Management Corp Japan raised its holdings in shares of Costco Wholesale by 4.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 158,416 shares of the retailer’s stock worth $148,193,000 after buying an additional 6,200 shares in the last quarter. Hyperion Asset Management Ltd raised its holdings in shares of Costco Wholesale by 9.0% in the 2nd quarter. Hyperion Asset Management Ltd now owns 68,762 shares of the retailer’s stock worth $64,325,000 after buying an additional 5,656 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Costco Wholesale by 15.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 22,766 shares of the retailer’s stock worth $21,297,000 after buying an additional 2,974 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Key Costco Wholesale News

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

• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an Overweight rating, citing potential upside from the current level. JPMorgan analyst recommendations
• Positive Sentiment: October net sales increased 12.6% year over year to $24.50 billion. U.S. comparable sales also rose 12.6%; Bank of America noted that U.S. comps were up 8.1% after adjusting for gasoline price changes and maintained its Buy rating. The strong sales momentum is a key near-term catalyst. Costco October sales results Bank of America rating and U.S. comparable sales
• Negative Sentiment: Valuation concerns persist after Costco’s rally: some commentary argues the stock’s elevated earnings multiple leaves limited room for disappointment. Citi maintained a Hold rating and $1,020 price target, below the recently quoted share price. Citi rating and price target Costco valuation discussion

Wall Street Analyst Weigh In

Several analysts recently commented on COST shares. Truist Financial decreased their price target on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a research note on Friday, September 25th. Jefferies Financial Group lowered their price target on Costco Wholesale from $1,130.00 to $1,100.00 in a research report on Friday, September 25th. Roth Capital reiterated a “sell” rating and set a $781.00 price objective on shares of Costco Wholesale in a research note on Friday, September 25th. Argus reissued a “buy” rating and set a $1,230.00 price objective on shares of Costco Wholesale in a report on Monday, September 28th. Finally, CICC Research began coverage on shares of Costco Wholesale in a research note on Wednesday, October 21st. They issued an “outperform” rating and a $1,050.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.55.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,065.59 on Friday. The stock has a market capitalization of $472.19 billion, a price-to-earnings ratio of 51.33, a P/E/G ratio of 4.47 and a beta of 0.85. The firm’s 50-day moving average price is $950.04 and its two-hundred day moving average price is $972.05. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last posted its earnings results 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 company had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. During the same quarter in the previous year, the company posted $5.87 earnings per share. Costco Wholesale’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, October 30th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.32%.

Insiders Place Their Bets

In related news, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction on Tuesday, October 13th. The stock was 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 directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of Costco Wholesale stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the transaction, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.