Costco Wholesale Corporation $COST Stock: Pinnacle Bancorp Inc. Trims Stake

Pinnacle Bancorp Inc. reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 56.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,148 shares of the retailer’s stock after selling 2,752 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Costco Wholesale were worth $1,956,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of COST. Bank of America Corp DE acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $6,781,946,000. Diamant Asset Management Inc. boosted its position in shares of Costco Wholesale by 99,278.0% during the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock valued at $672,690,000 after acquiring an additional 6,720,130 shares in the last quarter. State Street Corp boosted its position in shares of Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after acquiring an additional 5,749,362 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $2,362,188,000. Finally, Ascentis Wealth Management LLC increased its stake in Costco Wholesale by 103,637.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock valued at $2,549,616,000 after acquiring an additional 2,497,652 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Trending Headlines about Costco Wholesale

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

• Positive Sentiment: Analyst optimism: Tigress Financial raised its price target to $1,250, while CICC initiated coverage with an “outperform” rating. These actions reinforce the bullish view that Costco’s membership income, sales growth and customer loyalty can support further gains. Tigress Financial raises target for Costco Wholesale stock
• Positive Sentiment: Long-term performance and growth potential: A retrospective analysis said $1,000 invested in Costco 10 years ago would have grown to $8,018, substantially outperforming the S&P 500. Another report highlighted potential upside surprises, including continued membership growth and resilient consumer demand. Costco Turned $1,000 Into $8,018
• Positive Sentiment: Potential stock split: Costco’s CEO said a stock split is regularly discussed by the board. No split was announced, but speculation could improve accessibility for employees and smaller investors following the stock’s strong appreciation. Costco’s Last Stock Split Was in 2000
• Neutral Sentiment: Valuation remains a concern: Costco trades at the highest earnings multiple among several major retailers, despite having a relatively low operating margin. Its premium valuation leaves less room for disappointment if growth or membership trends slow. Are You Overpaying For Costco Stock Versus Its Rivals?
• Negative Sentiment: Competitive pressure is increasing: Kroger plans to spend $5 billion on lower prices and technology after acknowledging market-share losses to Walmart and Costco. More aggressive grocery pricing could pressure Costco’s traffic, margins or competitive advantage. Kroger Is Spending $5 Billion to Cut Prices

Costco Wholesale Stock Up 2.0%

Shares of NASDAQ:COST opened at $1,018.21 on Friday. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. The company’s fifty day moving average is $937.12 and its 200-day moving average is $962.93. The company has a market capitalization of $451.20 billion, a PE ratio of 49.05, a P/E/G ratio of 4.27 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.21. The business 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 firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.87 EPS. Equities research analysts predict that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company 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 $1.47 dividend. The ex-dividend date is Friday, October 30th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s payout ratio is 28.32%.

Analysts Set New Price Targets

COST has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating on the stock in a research note on Wednesday, September 16th. CICC Research initiated coverage on shares of Costco Wholesale in a research note on Wednesday. They set an “outperform” rating and a $1,050.00 price target for the company. DA Davidson lifted their price objective on Costco Wholesale from $1,000.00 to $1,040.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Mizuho lowered their price objective 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, Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a research note on Monday, September 28th. Twenty-five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,086.19.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, 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 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 approximately $6,534,244.62. The trade was a 23.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the sale, the executive vice president directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by insiders.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.