Fifth Third Bancorp Sells 14,091 Shares of Costco Wholesale Corporation $COST

Fifth Third Bancorp trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,436 shares of the retailer’s stock after selling 14,091 shares during the period. Fifth Third Bancorp owned 0.07% of Costco Wholesale worth $285,333,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. raised its holdings in shares of Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock valued at $25,000 after buying an additional 14 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Costco Wholesale during the 2nd quarter worth about $28,000. Burk Holdings LLC bought a new stake in Costco Wholesale during the 2nd quarter worth about $30,000. Manning & Napier Advisors LLC bought a new stake in Costco Wholesale during the 2nd quarter worth about $30,000. Finally, John Boyer Inc. bought a new stake in Costco Wholesale during the 3rd quarter worth about $32,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total value of $2,015,046.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.

Costco Wholesale Stock Up 2.0%

Shares of Costco Wholesale stock opened at $1,087.61 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50. The business has a fifty day simple moving average of $960.23 and a 200 day simple moving average of $973.88. The stock has a market cap of $481.95 billion, a PE ratio of 52.13, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85.

Costco Wholesale (NASDAQ:COST) last issued 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 firm had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. During the same quarter in the previous year, the company earned $5.87 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts predict that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

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

Key Stories Impacting Costco Wholesale

These are some of the COST stories that stood out recently:

• Positive Sentiment: The board also reauthorized a $4 billion stock repurchase program, reinforcing Costco’s capital-return plans. Bernstein raised its price target to $1,155 from $1,143 and maintained an Outperform rating; Mizuho also raised its target following the announcements. Mizuho raises Costco price target
• Neutral Sentiment: Some analysts view Costco’s membership-based, value-focused business as relatively defensive amid uncertainty, which may appeal to investors seeking resilience. Costco as a defensive investment
• Negative Sentiment: Valuation is a counterweight: Freedom Broker downgraded Costco from Buy to Hold, citing the stock’s valuation. Other commentary also warns that the premium price leaves limited room for disappointment, so the special dividend alone may not justify buying at current levels. Freedom Broker downgrade

Analyst Upgrades and Downgrades

Several research firms have weighed in on COST. BTIG Research restated a “buy” rating and issued a $1,125.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 23rd. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a research report on Monday, September 28th. JPMorgan Chase & Co. increased their price target on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. HSBC raised shares of Costco Wholesale to a “buy” rating in a report on Friday, September 25th. Finally, Raymond James Financial lowered their price target on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating for the company in a report on Friday, September 25th. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,092.23.

Costco Wholesale 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.