OMERS ADMINISTRATION Corp Has $35.84 Million Stock Holdings in Costco Wholesale Corporation $COST

OMERS ADMINISTRATION Corp grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 29.9% in the 1st quarter, HoldingsChannel reports. The fund owned 35,963 shares of the retailer’s stock after buying an additional 8,286 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Costco Wholesale were worth $35,835,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COST. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Costco Wholesale during the fourth quarter worth about $28,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Costco Wholesale in the 4th quarter worth about $28,000. Manning & Napier Advisors LLC lifted its position in Costco Wholesale by 750.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 34 shares of the retailer’s stock valued at $34,000 after acquiring an additional 30 shares in the last quarter. Finally, Entrust Financial LLC bought a new position in Costco Wholesale in the 4th quarter valued at about $31,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COST. Deutsche Bank Aktiengesellschaft upped their price target on Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. The Goldman Sachs Group raised their price objective on Costco Wholesale from $1,088.00 to $1,159.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings downgraded shares of Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Truist Financial upped their target price on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the stock a “hold” rating in a research note on Friday, May 29th. Finally, TD Cowen reiterated a “buy” rating and issued a $1,175.00 target price on shares of Costco Wholesale in a report on Wednesday, June 3rd. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,059.07.

Insider Buying and Selling at Costco Wholesale

In related news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the transaction, the director owned 4,779 shares of the company’s stock, valued at $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Key Headlines Impacting Costco Wholesale

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

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation (NASDAQ:COST) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Costco Wholesale Stock Up 1.0%

Costco Wholesale stock opened at $935.03 on Friday. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50. The firm has a market capitalization of $414.67 billion, a price-to-earnings ratio of 47.03, a P/E/G ratio of 4.52 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The firm has a 50 day simple moving average of $965.91 and a 200 day simple moving average of $979.93.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The company had revenue of $70.53 billion for the quarter, compared to analysts’ expectations of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same period in the previous year, the firm earned $4.28 EPS. On average, analysts predict that Costco Wholesale Corporation will post 20.42 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, July 24th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 29.58%.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.