Crossmark Global Holdings Inc. Buys 838 Shares of Costco Wholesale Corporation $COST

Crossmark Global Holdings Inc. increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 4.6% in the 3rd quarter, Holdings Channel reports. The fund owned 19,248 shares of the retailer’s stock after buying an additional 838 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Costco Wholesale were worth $17,522,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in Costco Wholesale during the second quarter worth about $6,781,946,000. Diamant Asset Management Inc. boosted its holdings in shares of Costco Wholesale by 99,278.0% in the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock worth $672,690,000 after purchasing an additional 6,720,130 shares in the last quarter. State Street Corp increased its position in shares of Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after purchasing an additional 5,749,362 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Costco Wholesale during the 2nd quarter valued at about $2,362,188,000. Finally, Ascentis Wealth Management LLC increased its position in shares of Costco Wholesale by 103,637.0% during 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 during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 2.0%

NASDAQ COST opened at $1,018.21 on Friday. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50. The stock has a market capitalization of $451.20 billion, a PE ratio of 49.05, a PEG ratio of 4.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. The business’s 50-day moving average is $937.12 and its 200 day moving average is $962.93.

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

Costco Wholesale Announces Dividend

The firm also recently announced 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 of this dividend is Friday, October 30th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is 28.32%.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was 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. This trade represents a 23.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction on 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 directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COST. Wells Fargo & Company decreased their price objective on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. TD Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Friday, September 25th. Oppenheimer reiterated an “outperform” rating and set a $1,160.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 16th. Bank of America decreased their price target on shares of Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating on the stock in a research note on Wednesday, September 16th. Finally, Raymond James Financial decreased their price target on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Twenty-five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,086.19.

Trending Headlines about Costco Wholesale

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

• Positive Sentiment: Analyst optimism: Tigress Financial raised its price target to $1,250, while CICC initiated coverage with an “outperform” rating. These actions reinforce the bullish view that Costco’s membership income, sales growth and customer loyalty can support further gains. Tigress Financial raises target for Costco Wholesale stock
• Positive Sentiment: Long-term performance and growth potential: A retrospective analysis said $1,000 invested in Costco 10 years ago would have grown to $8,018, substantially outperforming the S&P 500. Another report highlighted potential upside surprises, including continued membership growth and resilient consumer demand. Costco Turned $1,000 Into $8,018
• Positive Sentiment: Potential stock split: Costco’s CEO said a stock split is regularly discussed by the board. No split was announced, but speculation could improve accessibility for employees and smaller investors following the stock’s strong appreciation. Costco’s Last Stock Split Was in 2000
• Neutral Sentiment: Valuation remains a concern: Costco trades at the highest earnings multiple among several major retailers, despite having a relatively low operating margin. Its premium valuation leaves less room for disappointment if growth or membership trends slow. Are You Overpaying For Costco Stock Versus Its Rivals?
• Negative Sentiment: Competitive pressure is increasing: Kroger plans to spend $5 billion on lower prices and technology after acknowledging market-share losses to Walmart and Costco. More aggressive grocery pricing could pressure Costco’s traffic, margins or competitive advantage. Kroger Is Spending $5 Billion to Cut Prices

About Costco Wholesale

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.