King Luther Capital Management Corp Sells 1,334 Shares of Costco Wholesale Corporation $COST

King Luther Capital Management Corp reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,308 shares of the retailer’s stock after selling 1,334 shares during the quarter. King Luther Capital Management Corp’s holdings in Costco Wholesale were worth $61,273,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Spectrum Planning & Advisory Services Inc. raised its position in Costco Wholesale by 48.3% in the third quarter. Spectrum Planning & Advisory Services Inc. now owns 605 shares of the retailer’s stock worth $550,000 after purchasing an additional 197 shares in the last quarter. Smith Partners Wealth Management LLC lifted its stake in Costco Wholesale by 30.1% during the third quarter. Smith Partners Wealth Management LLC now owns 346 shares of the retailer’s stock worth $315,000 after purchasing an additional 80 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Costco Wholesale by 13.6% during the third quarter. Maryland State Retirement & Pension System now owns 27,168 shares of the retailer’s stock valued at $24,732,000 after purchasing an additional 3,263 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Costco Wholesale by 4.4% during the third quarter. Ritholtz Wealth Management now owns 27,187 shares of the retailer’s stock valued at $24,749,000 after purchasing an additional 1,134 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp boosted its holdings in Costco Wholesale by 1.8% during the third quarter. UNIVEST FINANCIAL Corp now owns 17,987 shares of the retailer’s stock valued at $16,374,000 after purchasing an additional 314 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Key Stories Impacting Costco Wholesale

Investors following COST have been watching these stories:

• 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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial dropped their target price on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a report on Friday, September 25th. Freedom Broker lowered Costco Wholesale from a “buy” rating to a “hold” rating and boosted their price target for the company from $1,010.00 to $1,050.00 in a research note on Tuesday. BTIG Research reaffirmed a “buy” rating and issued a $1,125.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 23rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a report on Friday, October 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,160.00 target price on shares of Costco Wholesale in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,092.23.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,087.61 on Thursday. The firm has a market cap of $481.95 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 4.71 and a beta of 0.85. The company has a 50 day moving average of $960.23 and a 200-day moving average of $973.88. 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. The company had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. Costco Wholesale’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.87 earnings per share. On average, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the sale, the executive vice president owned 3,094 shares in the company, valued at $2,964,701.74. The trade was a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

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.