Top Costco Shareholders

Reviewed by Margaret JamesFact checked by Ryan EichlerReviewed by Margaret JamesFact checked by Ryan Eichler

Costco Wholesale Corp. (COST) has grown into a major warehouse retailer in the U.S. and abroad over four decades. It offers low prices on large packages of name-brand products. It sells groceries, appliances, electronics, apparel, and other items.

The company opened its first Costco warehouse under co-founders Jim Sinegal and Jeff Brotman in 1983 in Seattle. It eventually merged with Price Club 10 years later. The company returned to the name Costco in 1997 after a short period operating as PriceCostco and it has expanded dramatically since then.

Costco has over 127 million members who purchase long-term memberships to make online purchases and gain access to roughly 860 Costco warehouse stores in the U.S., Asia, Europe, and Latin America.

The top Costco shareholders are Craig Jelinek, Patrick Callans, Richard Galanti, Vanguard Group, BlackRock, and State Street Corp.

Costco generated an operating income of $9 billion on revenue of $253.7 billion in the trailing 12 months to August 2024. The company had a market capitalization of more than $388 billion as of Sept. 5, 2024.

Key Takeaways

• Costco is a major U.S. warehouse retailer with more than 127 million members.
• The company had a market capitalization of $388 billion on Sept. 5, 2024.
• The top individual Costco shareholders are Craig Jelinek, Patrick Callans, and Richard Galanti.
• Costco’s top institutional shareholders are Vanguard Group, BlackRock, and State Street Corp.

Top 3 Individual Insider Shareholders

The shares owned by individual insider shareholders are those that are held through direct ownership. Shares mentioned in this section don’t include those that are held indirectly nor shares accessible through stock options. Company insiders must file an SEC Form 4 whenever they buy or sell an amount of the company’s stock that is deemed to be material.

Important

The term “insider” refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company’s stock. It has nothing to do with insider trading in this context.

Craig Jelinek

Craig Jelinek owned 356,106 shares of Costco or about 0.08% of all outstanding shares as of July 19, 2024.

Jelinek stepped down as CEO in January 2024 and stayed on in an advisory role until the spring. Jelinek served as director and president of Costco beginning in 2010 and as CEO beginning in 2012.

Costco achieved steady growth during Jelinek’s nine years at the helm including expanding its operations into China. Costco opened its first store in China in 2019 in Shanghai. Jelinek previously held executive positions at Costco in operations and merchandising beginning in 2004. Jelinek’s early career was in warehouse operations after joining Costco in 1984.

Patrick Callans

Patrick Callans owned 62,895 shares of Costco or roughly 0.014% of all outstanding shares as of March 11, 2024.

Callans is executive vice president of Administration for Costco, a position he’s held since January 2019. Callans was senior vice president of human resources and risk management before that appointment. He first joined Costco as corporate counsel in 1994.

Richard Galanti

Richard Galanti owned 30,626 total Costco shares as of Aug. 15, 2024, roughly 0.007% of the total shares outstanding.

Galanti has been a director of Costco since 1995. He was also the CFO between 1993 and March 2024. He is now director and executive vice president and will be retiring in 2025.

Top 3 Institutional Shareholders

According to Whale Wisdom, 71 13F filers held Costco stock at the end of Q2 2024. Institutional shareholders own about 71.86% of outstanding Costco shares.

Vanguard Group Inc.

Vanguard Group owns 41.37 million shares of Costco, representing 9.33% of total shares outstanding, as of June 30, 2024.

The company is primarily a mutual fund and ETF management company with about $8.6 trillion in global assets under management (AUM) as of 2024.

The Vanguard S&P 500 ETF (VOO) is one of the company’s largest exchange-traded funds (ETFs) with about $1.2 trillion in AUM. Costco made up 0.84% of VOO’s holdings as of September 18, 2024.

BlackRock Inc.

BlackRock owned 33.19 million shares of Costco as of June 30, 2024, representing 7.49% of the total shares outstanding.

The company is primarily a mutual fund and ETF management company with approximately $10.47 trillion in AUM as of 2024.

The iShares Core S&P 500 ETF (IVV) is one of BlackRock’s largest ETFs with approximately $520 billion in AUM. Costco represents 0.84% of IVV’s holdings as of September 18, 2024.

State Street Corp.

State Street owns 18.63 million shares of Costco as of June 30, 2024, representing 4.20% of the total shares outstanding.

The company is primarily a manager of mutual funds, ETFs, and other assets with approximately $4.37 trillion in AUM.

The SPDR S&P 500 ETF Trust (SPY) is one of State Street’s largest ETFs with approximately $555 billion in AUM as of September 18, 2024. Costco represents 0.85% of SPY’s holdings.

What Is Costco’s Share Price?

Costco closed at $897.27 per share on September 17, 2024. Its 52-week range is from about $540.23 to $923.83.

How Often Does Costco Pay Dividends?

Costco pays dividends quarterly. The Q3 2024 dividend payment was issued on August 9 and was $4.64. The exact date can vary by quarter.

Is Membership Required to Shop at Costco?

Membership isn’t required to shop online but shoppers must pay 5% more for this option and Costco’s online prices are typically higher than its warehouse prices to begin with.

Prescription drug and alcohol purchases can be made by nonmembers in some states where it’s required by law.

The Bottom Line

Costco Wholesale Corp. is a major warehouse retailer in the U.S. and abroad. Membership is required for almost all sales and Costco boasts more than 127 million members. The top Costco individual shareholders are Craig Jelinek, Patrick Callans, and Richard Galanti as of 2024. Vanguard,
BlackRock, and State Street top the list of Costco’s institutional shareholders.

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