Costco Wholesale Corporation $COST Stock Sold by Harbour Investments Inc.

Harbour Investments Inc. decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,476 shares of the retailer’s stock after selling 2,095 shares during the quarter. Harbour Investments Inc.’s holdings in Costco Wholesale were worth $13,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in 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 acquiring an additional 5,749,362 shares in the last quarter. Bank of America Corp DE lifted its stake in Costco Wholesale by 11.5% in the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock valued at $7,488,203,000 after acquiring an additional 773,651 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Costco Wholesale by 1.2% in the third quarter. Fisher Asset Management LLC now owns 3,291,669 shares of the retailer’s stock valued at $2,996,538,000 after acquiring an additional 38,629 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Costco Wholesale by 5.5% in 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 acquiring an additional 160,893 shares during the period. Finally, Amundi grew its position in shares of Costco Wholesale by 11.1% in the 1st quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after acquiring an additional 283,360 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded up $14.00 on Friday, hitting $1,106.21. The company had a trading volume of 1,873,135 shares, compared to its average volume of 2,385,142. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,109.50. The stock has a market cap of $490.19 billion, a price-to-earnings ratio of 53.29, a P/E/G ratio of 4.82 and a beta of 0.85. The stock has a 50 day moving average price of $967.12 and a 200 day moving average price of $975.13. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.21. The company had revenue of $95.72 billion for the quarter, compared to analyst estimates 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 was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.87 earnings per share. Analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s payout ratio is currently 28.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on COST shares. Truist Financial dropped their target price on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a report on Friday, September 25th. Raymond James Financial cut their target price on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating for the company in a research note on Friday, September 25th. DA Davidson lifted their price target on Costco Wholesale from $1,000.00 to $1,040.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. Bank of America lowered their price target on Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Finally, Sanford C. Bernstein boosted their price target on Costco Wholesale from $1,143.00 to $1,155.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,092.23.

Trending Headlines about Costco Wholesale

Investors following COST have been watching these headlines:

• Positive Sentiment: Costco declared a one-time $30-per-share special dividend, totaling about $13.3 billion and payable December 4, and authorized a new $4 billion share repurchase program. The capital returns are supporting investor demand and underscore the company’s cash-generation strength. Article: Costco’s Record $30 Dividend Shows Just How Strong Its Cash Machine Is
• Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?
• Negative Sentiment: A recall of certain Kirkland Signature whipped cream cans over possible cleaning-chemical contamination creates a limited product and reputational risk. Article: Thanksgiving staple recalled at Costco over possible contamination

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction that occurred on 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 owned 7,134 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah Catherine George sold 756 shares of Costco Wholesale stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $1,096.01, for a total value of $828,583.56. Following the sale, the executive vice president directly owned 3,112 shares of the company’s stock, valued at approximately $3,410,783.12. The trade was a 19.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,956 shares of company stock worth $4,873,216. Insiders own 0.10% of the company’s stock.

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.