SevenBridge Financial Group LLC Boosts Position in Costco Wholesale Corporation $COST

SevenBridge Financial Group LLC lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 22.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,403 shares of the retailer’s stock after buying an additional 617 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Costco Wholesale were worth $3,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $25,000. Soundwatch Capital LLC lifted its stake in Costco Wholesale by 635.7% in the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after buying an additional 2,206 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Costco Wholesale during the 2nd quarter valued at $31,000. Anderson Financial Strategies LLC increased its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Finally, Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after acquiring an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Argus lifted their price objective on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Robert W. Baird decreased their target price on shares of Costco Wholesale from $1,125.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets reissued an “outperform” rating on shares of Costco Wholesale in a research note on Friday. Oppenheimer lowered their price objective on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Truist Financial decreased their price target on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating on the stock in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $992.70.

Insider Buying and Selling

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares of the company’s stock, valued at $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,720 shares of company stock worth $9,010,257 in the last 90 days. 0.10% of the stock is owned by insiders.

Costco Wholesale Stock Down 0.0%

Shares of NASDAQ:COST opened at $884.47 on Monday. The stock has a 50-day simple moving average of $916.22 and a 200-day simple moving average of $950.20. The stock has a market capitalization of $392.67 billion, a P/E ratio of 47.37, a PEG ratio of 5.99 and a beta of 1.00. Costco Wholesale Corporation has a 1 year low of $867.12 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.04.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, December 11th. The retailer reported $4.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.27 by $0.07. Costco Wholesale had a net margin of 2.96% and a return on equity of 29.35%. The company had revenue of $67.31 billion during the quarter, compared to analyst estimates of $67.03 billion. During the same quarter in the prior year, the business earned $4.04 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 27.85%.

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.