Lombard Odier Asset Management Switzerland SA Increases Position in Costco Wholesale Corporation $COST

Lombard Odier Asset Management Switzerland SA lifted its stake in Costco Wholesale Corporation (NASDAQ:COST) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,440 shares of the retailer’s stock after purchasing an additional 3,200 shares during the quarter. Costco Wholesale comprises about 0.8% of Lombard Odier Asset Management Switzerland SA’s holdings, making the stock its 15th largest holding. Lombard Odier Asset Management Switzerland SA’s holdings in Costco Wholesale were worth $22,360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Costco Wholesale by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 43,620,717 shares of the retailer’s stock worth $37,615,889,000 after buying an additional 165,349 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Costco Wholesale by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock valued at $8,919,573,000 after buying an additional 26,690 shares during the period. Morgan Stanley lifted its position in shares of Costco Wholesale by 1.1% during the fourth quarter. Morgan Stanley now owns 9,523,423 shares of the retailer’s stock worth $8,212,433,000 after purchasing an additional 107,775 shares in the last quarter. Diamant Asset Management Inc. increased its stake in 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 worth $672,690,000 after buying an additional 6,720,130 shares during the period. Finally, Corient Private Wealth LLC increased its stake in Costco Wholesale by 838.9% during the 4th quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock worth $5,282,182,000 after buying an additional 5,472,968 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

More Costco Wholesale News

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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COST. Deutsche Bank Aktiengesellschaft increased their price objective on Costco Wholesale from $1,104.00 to $1,106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and set a $1,175.00 price target on shares of Costco Wholesale in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating on shares of Costco Wholesale in a report on Monday, June 1st. DA Davidson restated a “neutral” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Twenty-two research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,059.07.

Costco Wholesale Price Performance

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

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing the consensus estimate of $4.94 by ($0.01). The firm had revenue of $70.53 billion during the quarter, compared to analyst estimates 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 posted $4.28 EPS. On average, sell-side analysts expect that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors 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 yield of 0.6%. Costco Wholesale’s dividend payout ratio is 29.58%.

Insider Activity

In related news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the sale, the director directly owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. This trade 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 at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Costco Wholesale 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.