Blue Chip Partners LLC Acquires 1,830 Shares of Costco Wholesale Corporation $COST

Blue Chip Partners LLC grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 5.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 34,381 shares of the retailer’s stock after buying an additional 1,830 shares during the quarter. Costco Wholesale comprises approximately 2.5% of Blue Chip Partners LLC’s portfolio, making the stock its 12th largest holding. Blue Chip Partners LLC’s holdings in Costco Wholesale were worth $34,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 165,349 shares during the period. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 26,690 shares in the last quarter. Morgan Stanley lifted its position in shares of Costco Wholesale by 1.1% in 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 position in shares of 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 purchasing an additional 6,720,130 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in Costco Wholesale by 838.9% during the fourth quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock worth $5,282,182,000 after acquiring an additional 5,472,968 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares in the company, valued at approximately $4,575,653.55. This represents a 15.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST opened at $935.03 on Monday. The firm has a market capitalization of $414.67 billion, a P/E ratio of 47.03, a P/E/G ratio of 4.52 and a beta of 0.88. The stock has a 50 day moving average price of $965.91 and a two-hundred day moving average price of $980.66. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week 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 posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The firm had revenue of $70.53 billion for the quarter, compared to analysts’ expectations of $70.12 billion. During the same period in the prior year, the firm earned $4.28 earnings per share. Equities analysts forecast that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business 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 $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Costco Wholesale’s payout ratio is 29.58%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COST. DA Davidson reissued a “neutral” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Thursday, June 4th. Bank of America increased their target price on Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, May 29th. HC Wainwright reiterated a “buy” rating on shares of Costco Wholesale in a research report on Monday, June 1st. TD Cowen reiterated a “buy” rating and set a $1,175.00 price target on shares of Costco Wholesale in a report on Wednesday, June 3rd. Finally, Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a report on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,059.07.

Key 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.

About Costco Wholesale

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.