Wambolt & Associates LLC has reduced its stake in **Costco Wholesale Corporation** (NASDAQ: COST) by **6.4%** during the second quarter of 2023, according to a report from Holdings Channel. The institutional investor now holds **4,214 shares** of Costco, having sold **289 shares** in the quarter. This adjustment means that Costco represents approximately **1.4%** of Wambolt’s investment portfolio, ranking as its **18th largest holding**. As of its latest filing with the **Securities and Exchange Commission**, Wambolt’s holdings in Costco were valued at **$4,156,000**.
Several other institutional investors have also made notable modifications to their positions in Costco. **Nuveen LLC** entered a new investment in the company during the first quarter, with a total purchase valued at approximately **$3.46 billion**. Meanwhile, **Kingstone Capital Partners Texas LLC** significantly increased its stake by **418,980.3%** during the second quarter, acquiring an additional **2,358,859 shares** to reach a total of **2,359,422 shares**, valued at around **$2.34 billion**.
Another substantial increase came from **Laurel Wealth Advisors LLC**, which augmented its holdings by **96,316.6%**, now owning **1,378,758 shares** valued at **$1.36 billion**. Additionally, **Vanguard Group Inc.** boosted its position by **1.7%** during the same period, holding **43,356,271 shares** worth approximately **$42.92 billion**. **National Bank of Canada FI** raised its stake by **84.0%** in the first quarter, owning **812,188 shares** valued at **$768.11 million**. Collectively, institutional investors now own **68.48%** of Costco’s stock.
Stock Performance and Dividend Announcements
On November 14, 2023, Costco shares opened at **$894.33**. The company’s stock has experienced fluctuations, with a **1-year low** of **$871.71** and a **1-year high** of **$1,078.23**. The fifty-day simple moving average stands at **$925.31**, while the 200-day average is **$960.83**. Financial metrics show a **debt-to-equity ratio** of **0.20**, a **current ratio** of **1.03**, and a **quick ratio** of **0.55**. Costco’s market capitalization is approximately **$396.35 billion**, with a **price-to-earnings (P/E) ratio** of **49.11** and a **beta** of **0.98**.
Costco also recently declared a quarterly dividend of **$1.30**, paid to shareholders on **October 31, 2023**. This dividend represents an annualized amount of **$5.20**, yielding **0.6%**. The company has a dividend payout ratio of **28.56%**, reflecting its commitment to returning value to shareholders.
Insider Transactions and Analyst Ratings
In related developments, **Russell D. Miller**, Executive Vice President, sold **3,381 shares** at an average price of **$915.00** on September 29, 2023, totaling **$3,093,615.00**. Following this transaction, Miller holds **9,740 shares**, valued at approximately **$8.91 million**, marking a **25.77%** reduction in his position. Another executive, **Claudine Adamo**, sold **2,700 shares** on October 24, 2023, for a total of **$2,526,336.00**, reducing her ownership by **28.27%**.
Over the past 90 days, insiders have sold a total of **9,720 shares** valued at **$9,010,257**. Corporate insiders now own **0.18%** of Costco’s stock.
Equity analysts have expressed optimism about Costco’s future. The **Telsey Advisory Group** reaffirmed an “outperform” rating, setting a target price of **$1,100.00**. **Sanford C. Bernstein** revised its price objective from **$1,140.00** to **$1,134.00** while maintaining an “outperform” rating. **DA Davidson** issued a “neutral” rating with a target price of **$1,000.00**. **Oppenheimer** adjusted its target from **$1,130.00** to **$1,050.00**, also rating the stock as “outperform.” Additionally, **BTIG Research** initiated coverage with a “buy” rating and a target of **$1,115.00**.
Currently, **eighteen** investment analysts have rated Costco with a “Buy” rating, while **thirteen** have issued a “Hold” rating. According to MarketBeat, Costco holds a consensus rating of “Moderate Buy” with a target price of **$1,025.07**.
Costco Wholesale Corporation operates membership warehouses across numerous countries, including the **United States**, **Canada**, **Mexico**, **Japan**, and several European nations. The company offers a wide array of branded and private-label products across various merchandise categories, reinforcing its position in the global retail market.
