Costco Wholesale Corporation $COST Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,130 shares of the retailer’s stock after purchasing an additional 5,744 shares during the quarter. Retirement Systems of Alabama’s holdings in Costco Wholesale were worth $181,276,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in COST. Allspring Global Investments Holdings LLC boosted its holdings in shares of Costco Wholesale by 12.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,802 shares of the retailer’s stock worth $190,126,000 after acquiring an additional 22,802 shares in the last quarter. Griffith & Werner Inc. increased its holdings in Costco Wholesale by 7.1% during the 3rd quarter. Griffith & Werner Inc. now owns 527 shares of the retailer’s stock valued at $480,000 after purchasing an additional 35 shares in the last quarter. StoneRidge PMG Advisors LLC acquired a new stake in Costco Wholesale during the 3rd quarter valued at $839,000. Beverly Hills Private Wealth LLC increased its holdings in Costco Wholesale by 2.0% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 726 shares of the retailer’s stock valued at $661,000 after purchasing an additional 14 shares in the last quarter. Finally, RHL Group LLC raised its position in Costco Wholesale by 24.2% in the 3rd quarter. RHL Group LLC now owns 113 shares of the retailer’s stock valued at $103,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

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

Insider Buying and Selling at Costco Wholesale

In related news, 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 transaction of $2,015,046.00. Following the completion of the sale, the executive vice president directly owned 7,134 shares of the company’s stock, valued at $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Richard Wilcox sold 1,100 shares of the company’s stock in a transaction on 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 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 position. 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

A number of research firms have commented on COST. DA Davidson boosted their price objective on Costco Wholesale from $1,000.00 to $1,040.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Raymond James Financial decreased their target price on Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. Truist Financial lowered their target price on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research note on Friday, September 25th. Weiss Ratings cut Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, November 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Costco Wholesale in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,090.55.

Costco Wholesale Stock Performance

COST stock opened at $1,066.18 on Tuesday. The company has a 50 day moving average price of $954.83 and a 200 day moving average price of $972.91. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. 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 stock has a market capitalization of $472.46 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 4.47 and a beta of 0.85.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $5.87 EPS. Analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

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

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.

Founded in 1983 in Seattle, Costco has expanded across North America, Europe, Asia, and Australia.