Costco Wholesale Corporation $COST Stock: Cornerstone Wealth Management LLC Reduces Holdings

Cornerstone Wealth Management LLC lowered its stake in Costco Wholesale Corporation (NASDAQ:COST) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,726 shares of the retailer’s stock after selling 1,051 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Costco Wholesale were worth $4,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Costco Wholesale by 31.7% during the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $22,359,224,000 after acquiring an additional 5,749,362 shares during the period. Bank of America Corp DE lifted its position in Costco Wholesale by 11.5% in the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock valued at $7,488,203,000 after acquiring an additional 773,651 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Costco Wholesale by 5.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock valued at $2,870,314,000 after acquiring an additional 160,893 shares in the last quarter. Amundi lifted its position in Costco Wholesale by 11.1% in the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after acquiring an additional 283,360 shares in the last quarter. Finally, Ascentis Wealth Management LLC boosted its stake in Costco Wholesale by 103,637.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after purchasing an additional 2,497,652 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other news, 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 directly owned 3,094 shares in the company, valued at $2,964,701.74. This represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

COST has been the subject of a number of research reports. UBS Group reiterated a “buy” rating on shares of Costco Wholesale in a report on Thursday, September 17th. Raymond James Financial cut their price target 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. Argus reaffirmed a “buy” rating and set a $1,230.00 price objective on shares of Costco Wholesale in a research report on Monday, September 28th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research report on Monday, September 28th. Finally, TD Cowen started coverage on Costco Wholesale in a report on Friday, October 30th. They set a “strong-buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,091.84.

Costco Wholesale Price Performance

NASDAQ COST opened at $1,066.14 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,096.50. The company has a market capitalization of $472.44 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. The firm’s 50 day moving average is $957.28 and its 200-day moving average is $973.36.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, topping the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The business had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. During the same quarter in the prior year, the company posted $5.87 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate 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 dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be paid a $30.00 dividend. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s payout ratio is presently 28.32%.

Trending Headlines about Costco Wholesale

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.