Costco Wholesale Corporation $COST Stock Holdings Lowered by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 10.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,853 shares of the retailer’s stock after selling 3,434 shares during the quarter. Costco Wholesale makes up 0.9% of Cornerstone Advisors LLC’s holdings, making the stock its 21st biggest position. Cornerstone Advisors LLC’s holdings in Costco Wholesale were worth $28,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COST. State Street Corp increased its position in Costco Wholesale by 31.7% during the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after acquiring an additional 5,749,362 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $7,488,203,000 after acquiring an additional 773,651 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Costco Wholesale by 1.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,291,669 shares of the retailer’s stock worth $2,996,538,000 after acquiring an additional 38,629 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 worth $2,870,314,000 after acquiring an additional 160,893 shares during the last quarter. Finally, Amundi boosted its stake in shares of Costco Wholesale by 11.1% during the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock worth $2,828,881,000 after purchasing an additional 283,360 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.3%

Shares of COST opened at $1,106.21 on Friday. The firm has a market capitalization of $490.19 billion, a P/E ratio of 53.29, a P/E/G ratio of 4.82 and a beta of 0.85. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,109.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $967.12 and a 200-day moving average price of $975.13.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. The firm had revenue of $95.72 billion for 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%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.87 earnings per share. Equities research analysts expect that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be given a $30.00 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s payout ratio is 28.32%.

Key Stories Impacting Costco Wholesale

Investors following COST have been watching these stories:

• Positive Sentiment: Costco declared a one-time $30-per-share special dividend, totaling about $13.3 billion and payable December 4, and authorized a new $4 billion share repurchase program. The capital returns are supporting investor demand and underscore the company’s cash-generation strength. Article: Costco’s Record $30 Dividend Shows Just How Strong Its Cash Machine Is
• Positive Sentiment: Costco’s recent sales growth and strong membership-focused business have helped fuel optimism ahead of its next quarterly results, scheduled for December 10. Article: Costco Hits All-Time High Amid $4 Billion Buyback, Special Dividend
• Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?

Wall Street Analysts Forecast Growth

COST has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on shares of Costco Wholesale from $1,143.00 to $1,155.00 and gave the company an “outperform” rating in a report on Wednesday. Freedom Broker downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and raised their price objective for the stock from $1,010.00 to $1,050.00 in a research note on Tuesday. Evercore reissued an “outperform” rating on shares of Costco Wholesale in a research note on Tuesday, September 22nd. Bank of America dropped their target price on Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Truist Financial cut their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,092.23.

Insider Activity at Costco Wholesale

In other news, EVP Teresa A. Jones sold 900 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total transaction of $975,555.00. Following the completion of the sale, the executive vice president owned 5,698 shares of the company’s stock, valued at approximately $6,176,347.10. The trade was a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 7,134 shares of the company’s stock, valued at $6,534,244.62. The trade was a 23.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,956 shares of company stock valued at $4,873,216 in the last quarter. Corporate 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.