On September 10, 2023, it was reported that investment management firm Douglass Winthrop Advisors LLC had decreased its stake in shares of Costco Wholesale Co. by 5.4% during the first quarter of the year. According to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), they sold 14,651 shares, leaving them with a total ownership of 257,572 shares. This move resulted in Costco Wholesale accounting for approximately 3.3% of Douglass Winthrop Advisors LLC’s holdings and becoming their sixth largest position. The value of their stake was estimated at $127,980,000 based on their most recent SEC filing.
Costco Wholesale has been the subject of several analyst reports recently. For example, Robert W. Baird raised their target price for the retailer’s shares from $535.00 to $550.00 in a report published on July 7th. Truist Financial also increased their target price for Costco Wholesale from $567.00 to $597.00 and rated the stock as a “buy” in a report released on August 3rd.
In addition to these reports, StockNews.com initiated coverage on Costco Wholesale on August 23rd and issued a “hold” rating for the stock. Stifel Nicolaus reiterated its “buy” rating on Costco Wholesale and set a target price of $575.00 in its report released on August 31st. Telsey Advisory Group also reaffirmed an “outperform” rating and set a target price of $575.00 for the retailer’s shares in their report published on August 28th.
Overall, based on data from Bloomberg.com, five equities research analysts have given Costco Wholesale a hold rating, while sixteen have assigned it a buy rating. The consensus among these analysts is that the stock is considered a “Moderate Buy,” with an average price target of $566.63.
On September 10th, Costco Wholesale’s stock traded at $551.19, climbing $2.57 during trading hours. The company saw a total of 1,077,496 shares traded, compared to its average daily volume of 1,404,762 shares. Costco Wholesale is currently characterized by a debt-to-equity ratio of 0.28 and possesses a quick ratio of 0.57 along with a current ratio of 1.08. The retailer has experienced a fifty-two week low of $447.90 and a fifty-two week high of $571.16.
With a market capitalization of $244.23 billion, Costco Wholesale holds a price-to-earnings ratio of 40.83 and boasts a PEG ratio of 4.05. Furthermore, the firm maintains a beta coefficient of 0.79 contributing to its resilience in the face of market fluctuations.
Costco Wholesale’s fifty-day moving average stands at $548.95 while its two-hundred-day moving average comes out to be $517.17 as per reports on September 10th, 2023.
In conclusion, despite Douglass Winthrop Advisors LLC reducing its stake in Costco Wholesale Co., analysts remain optimistic about the retailer’s performance based on their recent reports and ratings for the stock indicating positive potential for future growth in terms of target prices and ratings from experts within the industry.
Costco Wholesale Corporation
Updated on: 29/02/2024
Debt to equity ratio: Sell
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Institutional Investors Make Significant Moves in Costco Wholesale: Insights for Individual Investors
In the world of investment, it is not uncommon for large investors to buy and sell shares of a particular stock. Such recent activity has been observed in the case of Costco Wholesale, a popular retailer. Several prominent investor groups have made significant moves with regards to their holdings in this company.
One such group, High Net Worth Advisory Group LLC, increased its holdings in Costco Wholesale by 21.5% during the first quarter of this year. This resulted in the acquisition of an additional 534 shares, bringing their total ownership to 3,020 shares. The value of these shares is estimated to be around $1,501,000. Similarly, Welch & Forbes LLC increased their holdings by 0.6% during the same period, now owning 172,597 shares valued at $85,758,000 after purchasing an additional 1,091 shares.
Xponance Inc., another notable investor group, exhibited an increase of 8.6% in its ownership during the first quarter. With the addition of 8,371 shares to its existing portfolio of stocks valued at $52,580,000 prior to the purchase, Xponance Inc.’s current holdings stand at approximately 105,822 shares.
Hall Laurie J Trustee also saw a growth in their stake in Costco Wholesale during this period. Through a surge of 19.2%, they acquired an additional 61 shares and increased their total ownership to 378 shares worth $188,000.
Oak Asset Management LLC displayed a more modest increase of 1.1% in their holdings during the first quarter. The acquisition of just 45 more shares brought their total ownership to 4,281 shares valued at $2,127,000.
Interestingly enough though not particularly surprising given previous observations about institutional investors and hedge funds’ behavior patterns; about two-thirds (66.31%) persevere forward holding onto majority control over the company’s stock investments.
In other news, Director Susan L. Decker made a noteworthy sale of 1,565 shares on June 28th, with each share sold at an average price of $533.00. This translated to a total value of $834,145.00 for the transaction. Following this sale, Decker’s remaining direct ownership in the company is reported to be 13,329 shares with an approximate worth of $7,104,357.
A similar trend was observed when CFO Richard A. Galanti sold 1,500 shares on June 13th at an average price of $522.02 per share. The total transaction amounted to $783,030. After this sale, Galanti now holds around 23,850 shares valued at approximately $12,450,177.
It is important to note that these sales were filed with the Securities & Exchange Commission in accordance with regulations and can be accessed through the provided hyperlink.
Additionally, it should be mentioned that a quarterly dividend was recently declared by Costco Wholesale. On September 8th, shareholders who held their position until August 25th received a dividend payment of $1.02 per share. Based on this figure and an annualized perspective, the payout ratio for Costco Wholesale stands at 30.22%. Furthermore, this represents a yield of 0.74% for investors.
As corporate insiders continue to make moves with respect to their holdings in Costco Wholesale – albeit with relatively low percentage ownership – it is worthwhile for investors to pay close attention and consider these developments along with other relevant factors when analyzing and making investment decisions regarding this particular stock.