Tidal Investments LLC Increases Stake in Costco Wholesale Co.

Tidal Investments LLC has recently boosted its investment in Costco Wholesale Co. (NASDAQ:COST) by 30.2% during the third quarter, as outlined in their latest report filed with the Securities and Exchange Commission. After acquiring an additional 5,853 shares, Tidal Investments now holds a total of 25,231 shares in the retailer, representing a total value of approximately $22,368,000 at the conclusion of the most recent reporting period.

Recently, various large investors have also updated their positions in Costco Wholesale. For example, AlphaMark Advisors LLC increased its stake by 12.2% in the second quarter, now holding 165 shares valued at $140,000 after purchasing 18 more shares. Similarly, Whitener Capital Management Inc. raised its stake by 13.9%, owning 3,235 shares worth $2,750,000 after acquiring an additional 395 shares. Trivant Custom Portfolio Group LLC slightly increased its holdings by 0.4%, and Shulman DeMeo Asset Management LLC raised its stake by 2.6%. Westside Investment Management Inc. also boosted its investment by 2.7% in the same quarter. Institutional investors and hedge funds collectively own 68.48% of Costco's stock.

Costco Wholesale Stock Performance

Costco Wholesale's stock experienced a rise of $2.50 in midday trading on Thursday, reaching a price of $997.19. The trading volume stood at 344,081 shares, significantly lower than the average volume of 1,916,227. The stock has seen a fifty-two week low of $630.30 and a high of $1,007.80. Costco boasts a market capitalization of approximately $441.83 billion, with a price-to-earnings (P/E) ratio of 60.03, a price-to-earnings-to-growth (P/E/G) ratio of 6.05, and a beta of 0.82. Additionally, the company has a current ratio of 0.97, a quick ratio of 0.44, and a debt-to-equity ratio of 0.25. Over the past fifty days, its simple moving average has been $922.46, while the 200-day simple moving average stands at $882.71.

Quarterly Earnings Results

Costco Wholesale (NASDAQ:COST) recently released its quarterly earnings report on September 26th, where it reported earnings per share (EPS) of $5.15. This figure exceeded analysts' expectations, which predicted an EPS of $5.05. The company recorded revenue of $79.70 billion for the quarter, just shy of the expected $79.91 billion. Costco's net margin reached 2.90%, while the return on equity stood at 31.05%. Compared to the same quarter last year, revenues increased by 1.0%, with the previous year's earnings per share being $4.86. Analysts forecast an average EPS of 17.74 for Costco Wholesale for the current year.

Dividend Announcement

In addition to its earnings report, Costco has declared a quarterly dividend. This dividend, amounting to $1.16 per share, was paid on Friday, November 15th, to shareholders who were on record as of November 1st. This translates to an annualized dividend of $4.64, yielding 0.47%. The ex-dividend date was also November 1st, with a current dividend payout ratio of 28.00%.

Analyst Ratings

Recent comments from several research analysts reveal varying viewpoints on Costco's shares. Loop Capital increased its price target from $975.00 to $1,005.00 while maintaining a "buy" rating. Goldman Sachs similarly raised their target from $876.00 to $995.00, also affirming a "buy" rating. In contrast, Redburn Atlantic adjusted their rating down from "buy" to "neutral", while BMO Capital Markets raised their price target to $1,075.00. Currently, ten analysts have given the stock a hold rating, while nineteen have suggested a buy rating, leading to a consensus rating classified as "Moderate Buy" with an average target price of $931.89.

Insider Trading Activity

In terms of insider trading, EVP Pierre Riel sold 2,000 shares on October 15th at an average price of $896.71, totaling approximately $1,793,420.00. Following this sale, he holds 10,210 shares valued at around $9,155,409.10, marking a 16.38% reduction in his holdings. Additionally, EVP Claudine Adamo sold 3,200 shares at an average price of $888.99, worth $2,844,768.00, leaving her with 8,630 shares valued at approximately $7,671,983.70 after a 27.05% decrease in her ownership. In total, company insiders sold 11,016 shares worth $9,826,115 over the last quarter, representing 0.18% of the overall stock ownership by insiders.

About Costco Wholesale

Costco Wholesale Corporation operates membership warehouses globally, including locations in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, South Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company primarily offers both branded and private-label merchandise across various categories.

Costco, Investment, Stake