Costco Wholesale Corporation $COST Stock Purchased by Narwhal Capital Management

Narwhal Capital Management raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 25.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,902 shares of the retailer’s stock after acquiring an additional 1,823 shares during the quarter. Narwhal Capital Management’s holdings in Costco Wholesale were worth $8,104,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Costco Wholesale in the 2nd quarter worth about $6,781,946,000. State Street Corp lifted its position in shares of Costco Wholesale by 31.7% during the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $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 second quarter worth about $2,362,188,000. Ascentis Wealth Management LLC lifted its position in shares of Costco Wholesale by 103,637.0% during the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after purchasing an additional 2,497,652 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new position in Costco Wholesale in the second quarter worth about $726,689,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 7,134 shares in the company, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.10% of the company’s stock.

Costco Wholesale News Summary

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

• Positive Sentiment: Costco declared a $30-per-share special cash dividend, totaling about $13.3 billion, payable December 4 to shareholders of record November 24. The board also reauthorized a $4 billion share-repurchase program. The payout is a substantial one-time return of capital; the buyback provides ongoing flexibility to return cash and support per-share results. Costco dividend and repurchase announcement
• Positive Sentiment: Costco’s digital sales reportedly rose 22.5% in October, outpacing store comparable sales, while a separate report says it overtook Kroger in a grocery-market-share ranking. The growth suggests its online channels and membership model are drawing more spending, although the articles do not establish how much of that is already reflected in the stock. Costco digital sales report Costco grocery-share report
• Neutral Sentiment: Tumwater’s council approved a development agreement for a new Costco store. It may support local expansion, but the article provides no financial details to indicate a material near-term effect on company results. Tumwater Costco development agreement
• Negative Sentiment: Freedom Broker downgraded Costco from “buy” to “hold” and set a $1,050 price target, below the referenced share price. The higher target versus its prior estimate softens the message, but the downgrade could weigh on sentiment. Freedom Broker rating information

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,066.14 on Wednesday. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50. The stock has a fifty day moving average of $957.28 and a 200-day moving average of $973.36. The company has a market capitalization of $472.44 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06.

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

Costco Wholesale Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be given a $30.00 dividend. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is 28.32%.

Wall Street Analysts Forecast Growth

COST has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. HSBC raised Costco Wholesale to a “buy” rating in a report on Friday, September 25th. Sanford C. Bernstein decreased their target price on Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating for the company in a research report on Friday, September 25th. Freedom Broker downgraded Costco Wholesale from a “buy” rating to a “hold” rating and boosted their price target for the company from $1,010.00 to $1,050.00 in a report on Tuesday. Finally, Tigress Financial upped their price target on Costco Wholesale from $1,065.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $1,091.84.

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.