Balboa Wealth Partners Has $6.60 Million Stake in Costco Wholesale Corporation $COST

Key Points

• Balboa Wealth Partners increased its stake in Costco Wholesale Corporation by 42.1% during the second quarter, bringing its total holdings to $6.60 million.
• Costco's recent earnings report showed an EPS of $5.87, exceeding analyst expectations, while quarterly revenue was up 8.1% year-over-year.
• The company declared a quarterly dividend of $1.30, with a payout ratio of 28.56%, to be paid on November 14th to investors of record by October 31st.

Balboa Wealth Partners boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 42.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,664 shares of the retailer's stock after purchasing an additional 1,974 shares during the quarter. Costco Wholesale comprises approximately 1.3% of Balboa Wealth Partners' investment portfolio, making the stock its 13th largest holding. Balboa Wealth Partners' holdings in Costco Wholesale were worth $6,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bulwark Capital Corp bought a new position in Costco Wholesale in the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC raised its stake 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 worth $38,000 after purchasing an additional 36 shares during the last quarter. Financial Connections Group Inc. lifted 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 valued at $42,000 after purchasing an additional 39 shares in the last quarter. Frazier Financial Advisors LLC boosted its position in shares of Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after buying an additional 18 shares during the last quarter. Finally, eCIO Inc. purchased a new position in shares of Costco Wholesale during the first quarter valued at approximately $48,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $936.33 on Monday. The company has a market capitalization of $414.96 billion, a P/E ratio of 51.42, a price-to-earnings-growth ratio of 5.68 and a beta of 0.98. The company's 50-day moving average is $949.51 and its 200 day moving average is $971.56. 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 Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion during 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 firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $5.15 earnings per share. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale's payout ratio is 28.56%.

Analyst Ratings Changes

A number of equities research analysts recently commented on COST shares. Sanford C. Bernstein increased their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Argus increased their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, September 29th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a report on Friday, September 26th. BTIG Research assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 14th. They set a "buy" rating and a $1,115.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.15.

Insider Activity at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares of the company's stock, valued at $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate 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.

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