Costco Wholesale Corporation $COST Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,391 shares of the retailer’s stock after selling 604 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Costco Wholesale were worth $32,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Costco Wholesale by 31.7% in 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 in the last quarter. Bank of America Corp DE grew its holdings in Costco Wholesale by 11.5% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Costco Wholesale by 5.5% during 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 valued at $2,870,314,000 after purchasing an additional 160,893 shares during the period. Amundi increased its position in Costco Wholesale by 11.1% during the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after purchasing an additional 283,360 shares during the period. Finally, Ascentis Wealth Management LLC raised its holdings in shares of Costco Wholesale by 103,637.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock valued at $2,549,616,000 after purchasing an additional 2,497,652 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $998.31 on Thursday. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The firm has a market capitalization of $442.38 billion, a price-to-earnings ratio of 48.09, a PEG ratio of 4.25 and a beta of 0.88. 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 stock’s 50-day simple moving average is $935.99 and its 200-day simple moving average is $962.90.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.21. The firm had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.87 earnings per share. As a group, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Key Headlines Impacting Costco Wholesale

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

• Positive Sentiment: Value proposition strengthened by inflation: With consumer prices rising 3.7% year over year and gasoline prices up sharply, Costco’s low-margin, high-volume model and reported 14% markup cap could attract shoppers seeking lower prices. Inflation and Costco’s value model
• Positive Sentiment: Analyst support: CICC initiated coverage of Costco with an “Outperform” rating, adding a new bullish view on the company’s long-term prospects. CICC Costco coverage
• Positive Sentiment: Expansion and membership durability: Costco operates 292 of its 939 warehouses outside the U.S. and Puerto Rico, leaving room for overseas membership growth. Articles also highlight the company’s strong customer retention, a feature that supports recurring membership revenue. Costco overseas membership growth
• Positive Sentiment: Digital execution: Costco, Walmart and Target are benefiting from faster delivery, AI-enabled shopping and marketplace partnerships, supporting continued e-commerce growth. Retail digital sales growth
• Neutral Sentiment: ETF purchases and coverage describing Costco’s desserts, pumpkin pie, tote bags and planned South Meridian warehouse opening reinforce brand engagement and store expansion, but are unlikely to materially affect near-term earnings. ETF purchases of Costco
• Neutral Sentiment: Costco’s supplier controls and food-safety procedures may protect customer trust, though attention to food-safety risks highlights an ongoing operational issue for grocery retailers. Costco food-safety procedures
• Negative Sentiment: Valuation risk: Costco trades at the highest earnings multiple among six large retailers in one comparison, despite ranking only fifth in operating margin. That premium leaves less room for execution disappointments and may limit upside. Costco valuation versus rivals
• Negative Sentiment: Walmart’s aggressive holiday-sales ambitions and early Black Friday promotions reinforce competitive pressure, particularly around price and convenience. Walmart holiday competition

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the sale, the executive vice president owned 3,094 shares of the company’s stock, valued at $2,964,701.74. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on COST shares. BTIG Research reaffirmed a “buy” rating and issued a $1,125.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $1,160.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 16th. Wells Fargo & Company reduced their price objective on shares of Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating for the company in a research note on Friday, September 25th. Freedom Broker lowered their target price on Costco Wholesale from $1,030.00 to $1,010.00 and set a “buy” rating for the company in a report on Friday, September 25th. Finally, Sanford C. Bernstein lowered 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. Twenty-five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,086.19.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.