Canandaigua National Bank & Trust Co. Makes New $1.59 Million Investment in Costco Wholesale Corporation $COST

Canandaigua National Bank & Trust Co. acquired a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,703 shares of the retailer’s stock, valued at approximately $1,593,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COST. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Costco Wholesale during the fourth quarter worth approximately $27,000. Lifetime Wealth Management P.C. bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $28,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $28,000. Entrust Financial LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $31,000. Finally, Joseph Group Capital Management acquired a new position in shares of Costco Wholesale during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Key Costco Wholesale News

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

• Positive Sentiment: Costco reported July net sales of $23.12 billion, up 10.7% year over year. Sales for the first 48 weeks rose 10.1% to $273.55 billion, reinforcing the strength of consumer demand and membership-based traffic. Costco Wholesale Corporation Reports July Sales Results
• Positive Sentiment: The company continues expanding its store footprint, with construction underway near Meridian, Idaho and the Kuna border. New warehouses can increase membership, merchandise sales and ancillary revenue over time. Costco construction underway near Kuna border
• Positive Sentiment: Costco’s Kirkland Signature private-label brand remains a competitive advantage, attracting members and supporting customer loyalty. Its strategy is increasingly being viewed as a model by other retailers. Formerly bankrupt department store bets on Costco strategy
• Neutral Sentiment: Low-priced gasoline primarily supports Costco indirectly by attracting shoppers and encouraging memberships rather than generating substantial fuel profits. The strategy may boost traffic but can constrain direct fuel margins. Costco keeps its gas super cheap
• Negative Sentiment: Residents are objecting to a reportedly privately negotiated tax-sharing agreement tied to a proposed Costco and gas station project in an Orange County city. Political opposition or permitting delays could slow the development and add execution risk. Residents oppose Costco tax-sharing agreement

Costco Wholesale Price Performance

COST opened at $941.99 on Thursday. 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 current ratio of 1.07 and a quick ratio of 0.61. The company has a market capitalization of $417.75 billion, a price-to-earnings ratio of 47.38, a P/E/G ratio of 4.58 and a beta of 0.87. The firm’s fifty day moving average price is $951.60 and its two-hundred day moving average price is $982.34.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The firm had revenue of $70.53 billion during the quarter, compared to analysts’ expectations of $70.12 billion. During the same quarter in the prior year, the company earned $4.28 EPS. As a group, analysts anticipate that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, July 24th. Costco Wholesale’s dividend payout ratio (DPR) is 29.58%.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the transaction, the director owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the company a “hold” rating in a research note on Friday, May 29th. HC Wainwright restated a “buy” rating on shares of Costco Wholesale in a report on Monday, June 1st. Roth Capital lifted their price target on shares of Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Costco Wholesale from $1,110.00 to $1,100.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,059.07.

Costco Wholesale Company 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.