17,685 Costco Wholesale Corporation $COST Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,920 shares of the retailer’s stock after selling 17,685 shares during the period. Costco Wholesale accounts for approximately 0.9% of Keybank National Association OH’s portfolio, making the stock its 25th biggest holding. Keybank National Association OH owned 0.07% of Costco Wholesale worth $281,222,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of COST. Narwhal Capital Management lifted its stake in shares of Costco Wholesale by 25.8% in the third quarter. Narwhal Capital Management now owns 8,902 shares of the retailer’s stock worth $8,104,000 after buying an additional 1,823 shares during the last quarter. Guardian Financial Partners LLC boosted its holdings in shares of Costco Wholesale by 3.6% during the 3rd quarter. Guardian Financial Partners LLC now owns 1,810 shares of the retailer’s stock worth $1,648,000 after buying an additional 63 shares during the period. Marathon Wealth Advisors LLC grew its stake in Costco Wholesale by 2.4% in the 3rd quarter. Marathon Wealth Advisors LLC now owns 5,996 shares of the retailer’s stock valued at $5,458,000 after buying an additional 138 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in Costco Wholesale by 20.3% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 6,251 shares of the retailer’s stock valued at $5,690,000 after buying an additional 1,056 shares during the last quarter. Finally, Welch & Forbes LLC grew its stake in Costco Wholesale by 0.3% in the 3rd quarter. Welch & Forbes LLC now owns 162,786 shares of the retailer’s stock valued at $148,191,000 after buying an additional 509 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Freedom Broker lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and boosted their target price for the stock from $1,010.00 to $1,050.00 in a research report on Tuesday. Truist Financial lowered their price target on Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a research report on Friday, September 25th. CICC Research started coverage on Costco Wholesale in a research report on Wednesday, October 21st. They issued an “outperform” rating and a $1,050.00 price target on the stock. Wells Fargo & Company dropped their price objective on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a research note on Friday, September 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,160.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,091.84.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $1,066.14 on Wednesday. The business has a fifty day simple moving average of $957.28 and a 200 day simple moving average of $973.36. 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 PEG ratio of 4.71 and a beta of 0.85. Costco Wholesale Corporation has a one year low of $844.06 and a one year high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, topping 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 firm had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same quarter in the previous year, the company earned $5.87 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

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

Insiders Place Their Bets

In other news, EVP William Richard Wilcox sold 1,100 shares of Costco Wholesale stock in a transaction dated Tuesday, October 13th. The shares were 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 in the company, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 2,200 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were 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 in the company, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Key Costco Wholesale News

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

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.