1,051 Costco Wholesale Corporation $COST Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST) by 18.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,726 shares of the retailer’s stock after selling 1,051 shares during the period. Cornerstone Wealth Management LLC’s holdings in Costco Wholesale were worth $4,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Costco Wholesale by 31.7% in the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after purchasing an additional 5,749,362 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Costco Wholesale by 11.5% during the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock worth $7,488,203,000 after buying an additional 773,651 shares during the period. 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 second 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 purchasing an additional 160,893 shares during the last quarter. Amundi grew its holdings in 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 buying an additional 283,360 shares in the last quarter. Finally, Ascentis Wealth Management LLC grew its stake in shares of 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 in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Claudine Adamo sold 2,200 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction on 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 directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,066.14 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $472.44 billion, a price-to-earnings ratio of 51.36, a P/E/G ratio of 4.71 and a beta of 0.85. The firm’s 50 day simple moving average is $957.28 and its 200 day simple moving average is $973.36. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,096.50.

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

Costco Wholesale Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be issued a $30.00 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

Costco Wholesale News Roundup

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on COST. Freedom Broker downgraded Costco Wholesale from a “buy” rating to a “hold” rating and increased their price target for the stock from $1,010.00 to $1,050.00 in a research report on Tuesday. UBS Group reissued a “buy” rating on shares of Costco Wholesale in a report on Thursday, September 17th. Raymond James Financial decreased their price target on Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a research report on Friday, September 25th. Mizuho dropped their price target on Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Friday, September 25th. Finally, Evercore reaffirmed an “outperform” rating on shares of Costco Wholesale in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,091.84.

Costco Wholesale Company 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.