On September 18, 2023, it was reported that Buckley Wealth Management LLC had increased its position in Costco Wholesale Co. (NASDAQ:COST) by 11.3% during the second quarter of the year. According to the filing submitted to the Securities and Exchange Commission (SEC), the institutional investor now holds 11,051 shares of Costco’s stock after acquiring an additional 1,118 shares during this period. This increase means that Costco Wholesale makes up approximately 2.0% of Buckley Wealth Management LLCs investment portfolio, ranking as its 14th largest position. At the end of the most recent reporting period, Buckley Wealth Management LLC’s holdings in Costco Wholesale were valued at $5,950,000.
In other news related to Costco Wholesale, Director Susan L. Decker sold 1,565 shares of the company’s stock on June 28th for an average price of $533.00 per share. The total value of this transaction amounted to $834,145.00. Following this sale, Director Decker now possesses 13,329 shares in the company with an estimated worth of $7,104,357. The details surrounding this transaction were disclosed in a legal filing with the Securities & Exchange Commission and can be accessed through a provided hyperlink. It should be noted that corporate insiders own approximately 0.22% of Costco Wholesales stock.
This information sheds light on recent developments pertaining to Buckley Wealth Management LLC’s position in Costco Wholesale Co., as well as Director Susan L. Decker’s selling activity within the company’s stock.
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Institutional Investors and Hedge Funds Show Interest in Costco Wholesale as Stock Performance Remains Positive
Costco Wholesale, one of the largest retail giants in the United States, has gained significant attention from institutional investors and hedge funds. In recent times, several hedge funds and institutional investors have been actively buying and selling shares of COST, the stock symbol for Costco Wholesale.
One notable investor that grew its position in Costco Wholesale is Morgan Stanley. The financial services firm increased its stake by 18.0% during the fourth quarter. As a result, Morgan Stanley now owns an impressive 8,634,627 shares of Costco Wholesale’s stock valued at a staggering $3,941,708,000.
Furthermore, Geode Capital Management LLC also lifted its stake in the company by 1.4% during the first quarter. This move led them to hold approximately 8,210,385 shares of Costco Wholesale’s stock valued at $4,069,186,000.
Moneta Group Investment Advisors LLC witnessed incredible growth in their holdings of Costco Wholesale’s stock. Their holdings increased by a staggering 118,320.2% during the fourth quarter. As a result, they currently own an astounding 7,396,524 shares valued at $3,376,5139 million.
Bank of New York Mellon Corp also managed to increase their position with 10.6% during the first quarter. Their holdings now consist of 5,595.523 shares worth $2.780247 billion.
Norges Bank made an entrance into the market by acquiring new positions in Costco Wholesale worth $2.328840 billion during the fourth quarter. With these purchases on board investment managers can’t help but be curious about what lies ahead for this retail giant and how it may impact their investment portfolios.
It is interesting to note that institutional investors and hedge funds currently own around 66.31% of COST stock portfolio according to data gleaned within this research piece.
These recent developments surrounding COST have sparked curiosity among analysts and researchers. As a result, numerous research reports have been generated regarding the retail giant’s potential. Truist Financial is one firm that has recently raised its price objective on Costco Wholesale from $567.00 to $597.00, giving it a “buy” rating.
Similarly, Stifel Nicolaus reiterated their “buy” rating and set a price target of $575.00 for COST shares. Additionally, Robert W. Baird upped their price objective from $535.00 to $550.000.
While some analysts maintain more neutral views, with StockNews.com issuing a “hold” rating for Costco Wholesale, others like VNET Group continue to maintain their positive stance by reiterating a “reiterates” rating on the company’s stock.
Overall, there seems to be general optimism among analysts regarding the future performance of Costco Wholesale with five equities research analysts assigning a hold rating and sixteen rating it as a buy.
In other news, Director Susan L. Decker participated in insider trading by selling 1,565 shares of Costco Wholesale stock on Wednesday, June 28th at an average price of $533 each share. The total transaction amounted to $834,145.
Despite this transaction taking place publicly as stated in legal filings with the Securities & Exchange Commission (SEC), corporate insiders still own only about 0.22% of the stock.
On September 18th, COST traded at around $560 per share during midday trading with approximately 196k shares being exchanged compared to its average volume of 1.8 million shares.
Costco Wholesale Co., which currently boasts a market capitalization of around $248 billion and has experienced notable growth over the past year with its lowest point recorded at about $447 in September 2022 and highest at around $571 in August 2023.
The company also rewarded investors with a quarterly dividend payment on Friday, September 8th. Investors of record on Friday, August 25th were entitled to a $1.02 dividend per share. This totals an annualized dividend of $4.08 and represents a dividend yield of 0.73%. The ex-dividend date for this payment was on Thursday, August 24th.
Overall, the recent activity surrounding Costco Wholesale has generated significant interest and curiosity among investors and analysts alike. With institutional investors taking note, research reports being disseminated, and insider trading in the mix, it is certainly an intriguing time for COST stock holders.
