Bridgewealth Advisory Group LLC Lowers Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Bridgewealth Advisory Group LLC lowered its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 65.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 314 shares of the retailer's stock after selling 601 shares during the quarter. Bridgewealth Advisory Group LLC's holdings in Costco Wholesale were worth $297,000 at the end of the most recent quarter.

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Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bosun Asset Management LLC increased its holdings in Costco Wholesale by 1.6% during the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after purchasing an additional 10 shares during the period. Corps Capital Advisors LLC boosted its position in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares in the last quarter. Covestor Ltd boosted its position in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after acquiring an additional 10 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after acquiring an additional 11 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. boosted its position in shares of Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insider Buying and Selling

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

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Shares of COST stock opened at $991.25 on Wednesday. The company has a market cap of $439.60 billion, a price-to-earnings ratio of 56.23, a price-to-earnings-growth ratio of 6.15 and a beta of 0.96. The stock has a 50 day simple moving average of $975.28 and a 200-day simple moving average of $985.81. Costco Wholesale Corporation has a 12-month low of $856.16 and a 12-month high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the business posted $3.78 EPS. Costco Wholesale's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio is 29.50%.

Wall Street Analysts Forecast Growth

COST has been the subject of several analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday, August 4th. Evercore ISI lowered their price objective on 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. JPMorgan Chase & Co. upped their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Loop Capital decreased their target price on 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. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

Check Out Our Latest Analysis on COST

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.

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