509 Costco Wholesale Corporation $COST Shares Purchased by Welch & Forbes LLC

Welch & Forbes LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 162,786 shares of the retailer’s stock after purchasing an additional 509 shares during the period. Costco Wholesale comprises approximately 1.7% of Welch & Forbes LLC’s holdings, making the stock its 12th biggest holding. Welch & Forbes LLC’s holdings in Costco Wholesale were worth $148,191,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COST. Idaho Trust Co purchased a new stake in Costco Wholesale in the 3rd quarter worth approximately $217,000. Nemes Rush Group LLC boosted its holdings in Costco Wholesale by 1.4% in the 3rd quarter. Nemes Rush Group LLC now owns 15,660 shares of the retailer’s stock valued at $14,256,000 after purchasing an additional 212 shares during the period. United Capital Management of KS Inc. boosted its holdings in Costco Wholesale by 4.0% in the 3rd quarter. United Capital Management of KS Inc. now owns 14,849 shares of the retailer’s stock valued at $13,518,000 after purchasing an additional 567 shares during the period. Montis Financial LLC grew its position in shares of Costco Wholesale by 6.4% during the 3rd quarter. Montis Financial LLC now owns 351 shares of the retailer’s stock valued at $320,000 after purchasing an additional 21 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Costco Wholesale by 7.3% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 43,235 shares of the retailer’s stock valued at $39,359,000 after purchasing an additional 2,942 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.2%

Shares of NASDAQ COST opened at $1,066.18 on Tuesday. The stock has a market capitalization of $472.46 billion, a P/E ratio of 51.36, a PEG ratio of 4.47 and a beta of 0.85. Costco Wholesale Corporation has a one year low of $844.06 and a one year 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. 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 (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. During the same quarter in the prior year, the company earned $5.87 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared 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 is Friday, October 30th. Costco Wholesale’s dividend payout ratio is presently 28.32%.

Key Stories Impacting Costco Wholesale

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Argus reaffirmed a “buy” rating and issued a $1,230.00 price target on shares of Costco Wholesale in a report on Monday, September 28th. Weiss Ratings cut Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, November 4th. Robert W. Baird set a $1,175.00 target price on Costco Wholesale in a research report on Friday, September 25th. Mizuho decreased their target price on Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $1,125.00 price target on shares of Costco Wholesale in a report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.55.

Insider Activity

In other news, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the transaction, the executive vice president directly owned 3,094 shares in the company, valued at $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

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.