Beacon Bridge Wealth Partners LLC Takes $353,000 Position in Costco Wholesale Corporation $COST

Beacon Bridge Wealth Partners LLC acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, Holdings Channel.com reports. The firm acquired 357 shares of the retailer’s stock, valued at approximately $353,000.

Other large investors also recently modified their holdings of the company. Bulwark Capital Corp bought a new position in shares of Costco Wholesale in the second quarter valued at approximately $25,000. Anderson Financial Strategies LLC boosted its position in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $48,000. Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares during the period. Finally, Ransom Advisory Ltd bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $61,000. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COST. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Truist Financial lowered their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, September 24th. Wolfe Research began coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating on the stock. Finally, Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,066.23.

Costco Wholesale Trading Up 3.1%

COST stock opened at $942.89 on Friday. The company has a market capitalization of $418.15 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The company’s 50 day moving average price is $952.50 and its two-hundred day moving average price is $971.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $5.15 earnings per share. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 over the last three months. 0.18% of the stock is owned by company insiders.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.