Costco Wholesale Corporation $COST Stock Bought by Welch & Forbes LLC

Welch & Forbes LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,786 shares of the retailer’s stock after buying an additional 509 shares during the quarter. Costco Wholesale accounts for 1.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 12th largest holding. Welch & Forbes LLC’s holdings in Costco Wholesale were worth $148,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Contravisory Investment Management Inc. grew its stake in shares of Costco Wholesale by 107.7% in the 3rd quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock worth $25,000 after acquiring an additional 14 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $28,000. Burk Holdings LLC bought a new position in shares of Costco Wholesale during the second quarter valued at about $30,000. Manning & Napier Advisors LLC bought a new position in shares of Costco Wholesale during the second quarter valued at about $30,000. Finally, John Boyer Inc. bought a new position in shares of Costco Wholesale during the third quarter valued at about $32,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale stock in a transaction dated 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 completion of the sale, the executive vice president owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 7,134 shares in the company, valued at $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by corporate insiders.

Costco Wholesale News Summary

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

• Positive Sentiment: Costco’s digital sales rose 22.5% in October, outpacing store comparable sales. Delivery partnerships, personalization and stronger online engagement are helping the company capture changing shopping habits, which could support sales growth. Costco’s Digital Sales Outpace Store Comps as Shopping Evolves
• Neutral Sentiment: Costco closed a California warehouse after 37 years and opened a replacement location about a mile away. The new site is 152,000 square feet; this appears to be a relocation rather than a meaningful reduction in the company’s local presence. Costco closes popular California store location after 37 years
• Neutral Sentiment: An article about Costco’s new Medicare Advantage plan highlights a potential consumer trade-off: a member who later wants Medigap coverage may face health questions or be denied after a 12-month trial right ends. The report focuses on enrollment considerations and does not quantify a financial effect for Costco. Medicare Advantage plan and Medigap considerations

Costco Wholesale Stock Performance

Shares of COST stock opened at $1,066.18 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. The firm has a market cap of $472.46 billion, a price-to-earnings ratio of 51.36, a P/E/G ratio of 4.47 and a beta of 0.85. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The firm’s 50-day simple moving average is $954.83 and its two-hundred day simple moving average is $972.91.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.21. The company had revenue of $95.72 billion during the quarter, compared to analyst estimates 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 last year, the business posted $5.87 EPS. As a group, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

COST has been the topic of several analyst reports. Tigress Financial boosted their price target on shares of Costco Wholesale from $1,065.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. UBS Group reiterated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, September 17th. TD Cowen initiated coverage on shares of Costco Wholesale in a research report on Friday, October 30th. They set a “strong-buy” rating on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, October 9th. Finally, Sanford C. Bernstein reduced their target price on Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating for the company in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,090.55.

Costco Wholesale Company 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.

Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.