Bear Mountain Capital Inc. Has $989,000 Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Bear Mountain Capital Inc. lifted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 82.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 998 shares of the retailer’s stock after acquiring an additional 451 shares during the quarter. Costco Wholesale makes up approximately 0.4% of Bear Mountain Capital Inc.’s holdings, making the stock its 29th largest holding. Bear Mountain Capital Inc.’s holdings in Costco Wholesale were worth $989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the 4th quarter worth approximately $25,000. Clear Investment Research LLC raised its position in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after purchasing an additional 10 shares during the last quarter. Aspect Partners LLC raised its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the 4th quarter worth approximately $59,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $951.37 on Thursday. The firm has a market cap of $421.91 billion, a PE ratio of 53.96, a PEG ratio of 6.02 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a fifty day moving average price of $1,001.13 and a 200 day moving average price of $982.21.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same period in the prior year, the business posted $3.78 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares of the company’s stock, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Morgan Stanley upped their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Cfra Research upgraded shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Finally, Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,037.48.

Costco Wholesale Profile

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.