Janney Montgomery Scott LLC Purchases 2,444 Shares of Costco Wholesale Corporation $COST

Janney Montgomery Scott LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,882 shares of the retailer’s stock after buying an additional 2,444 shares during the period. Janney Montgomery Scott LLC’s holdings in Costco Wholesale were worth $124,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Geode Capital Management LLC increased its stake in Costco Wholesale by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock worth $8,919,573,000 after purchasing an additional 26,690 shares during the period. Morgan Stanley lifted its position in shares of Costco Wholesale by 1.1% during the fourth quarter. Morgan Stanley now owns 9,523,423 shares of the retailer’s stock worth $8,212,433,000 after purchasing an additional 107,775 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Costco Wholesale by 11.5% during the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock valued at $7,488,203,000 after purchasing an additional 773,651 shares during the period. Diamant Asset Management Inc. boosted its stake in shares of Costco Wholesale by 99,278.0% during the first quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock valued at $672,690,000 after purchasing an additional 6,720,130 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in shares of Costco Wholesale by 838.9% in the fourth quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock worth $5,282,182,000 after purchasing an additional 5,472,968 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 2.5%

NASDAQ:COST opened at $971.40 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50. The company has a 50-day moving average of $946.98 and a 200 day moving average of $980.99. The firm has a market cap of $430.80 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 4.51 and a beta of 0.87.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The business had revenue of $70.53 billion for the quarter, compared to analysts’ expectations of $70.12 billion. During the same period last year, the business posted $4.28 EPS. As a group, research analysts anticipate that Costco Wholesale Corporation will post 20.42 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s payout ratio is 29.58%.

Analyst Ratings Changes

Several research analysts recently commented on COST shares. Sanford C. Bernstein raised their price target on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Mizuho set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday, June 1st. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research note on Monday, June 1st. TD Cowen reaffirmed a “buy” rating and set a $1,175.00 target price on shares of Costco Wholesale in a research report on Wednesday, June 3rd. Finally, Oppenheimer lifted their price target on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,059.53.

Costco Wholesale Company Profile

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.