986 Shares in Costco Wholesale Corporation $COST Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors acquired a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 986 shares of the retailer’s stock, valued at approximately $982,000.

Several other hedge funds also recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Costco Wholesale during the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $28,000. Lifetime Wealth Management P.C. bought a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $28,000. Entrust Financial LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $31,000. Finally, Joseph Group Capital Management bought a new stake in Costco Wholesale during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 4,779 shares in the company, valued at $4,575,653.55. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Key Headlines Impacting Costco Wholesale

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

• Positive Sentiment: Bank of America and other analysts reiterated bullish views, saying Costco’s value-focused model and affluent membership base should continue to support market share gains. Costco shares fall after June sales update, Bank of America remains bullish
• Positive Sentiment: Costco posted strong June net sales of $29.24 billion and continued to see robust digital and U.S. demand, which suggests the core business remains healthy. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Neutral Sentiment: Costco declared a quarterly dividend, which is supportive for income investors but unlikely to be a major near-term stock mover. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Negative Sentiment: A proposed class-action lawsuit alleging Costco’s protein powder contained toxic heavy metals could create legal and reputational overhang. Costco faces class-action lawsuit alleging protein powder was laced with toxic heavy metals

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Telsey Advisory Group increased their price target on shares of Costco Wholesale from $1,125.00 to $1,135.00 and gave the company an “outperform” rating in a research report on Thursday, April 9th. Oppenheimer boosted their target price on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Mizuho set a $1,100.00 price objective on Costco Wholesale in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,061.10.

Costco Wholesale Price Performance

COST stock opened at $912.97 on Friday. The firm has a market cap of $404.88 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.62 and a beta of 0.88. The firm’s fifty day moving average is $985.31 and its 200 day moving average is $975.67. 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 released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). The company had revenue of $70.53 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $4.28 EPS. Research analysts predict that Costco Wholesale Corporation will post 20.38 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $1.47 dividend. 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 (DPR) is 29.58%.

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.