Costco Wholesale Corporation $COST Stock: Machina Capital S.A.S. Reduces Position

Machina Capital S.A.S. trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 50.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,346 shares of the retailer’s stock after selling 2,423 shares during the period. Machina Capital S.A.S.’s holdings in Costco Wholesale were worth $2,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. increased its position 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 purchasing an additional 14 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $28,000. Burk Holdings LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $30,000. Manning & Napier Advisors LLC bought a new position in shares of Costco Wholesale during the second quarter worth about $30,000. Finally, John Boyer Inc. bought a new position in shares of Costco Wholesale during the third quarter worth about $32,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Latest Costco Wholesale News

These are some of the COST news items that stood out recently:

• Positive Sentiment: Costco plans to expand its Hyderabad technology center after reporting a 60% productivity gain from AI, potentially supporting efficiency as the company grows. Article: Costco reveals 60% AI productivity gain in major expansion
• Neutral Sentiment: Bernstein raised its price target to $1,155 and maintained an Outperform rating, but noted that expectations ahead of earnings remain demanding. Article: Bernstein Makes Surprising Costco Call Before Earnings
• Neutral Sentiment: EVP Teresa A. Jones sold 900 shares for about $976,000, reducing her position by 13.64% but retaining 5,698 shares. A single executive sale is not necessarily a signal about the company’s outlook. SEC Form 4 filing

Analysts Set New Price Targets

A number of equities analysts recently commented on COST shares. CICC Research initiated coverage on Costco Wholesale in a research note on Wednesday, October 21st. They issued an “outperform” rating and a $1,050.00 price target for the company. Truist Financial cut their price objective 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. Evercore reaffirmed an “outperform” rating on shares of Costco Wholesale in a report on Tuesday, September 22nd. Argus reiterated a “buy” rating and issued a $1,230.00 target price on shares of Costco Wholesale in a research report on Monday, September 28th. Finally, JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,015.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $1,092.23.

Costco Wholesale Trading Up 0.4%

NASDAQ:COST opened at $1,092.21 on Friday. The firm has a market capitalization of $483.99 billion, a P/E ratio of 52.61, a P/E/G ratio of 4.81 and a beta of 0.85. The business has a 50 day simple moving average of $963.50 and a 200 day simple moving average of $974.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,102.84.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.21. The firm had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $5.87 earnings per share. Equities research analysts predict that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In related news, EVP Teresa A. Jones sold 900 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total value of $975,555.00. Following the sale, the executive vice president owned 5,698 shares of the company’s stock, valued at $6,176,347.10. This trade represents a 13.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale 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 sale, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,200 shares of company stock worth $4,044,632. Insiders own 0.10% of the company’s stock.

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.