Beacon Bridge Wealth Partners LLC Acquires Shares of 357 Costco Wholesale Corporation $COST

Key Points

• Beacon Bridge Wealth Partners LLC has acquired 357 shares of Costco Wholesale valued at approximately $353,000 during the second quarter.
• Costco recently reported earnings of $5.87 per share, exceeding analysts' estimates and showing a revenue increase of 8.1% year-over-year.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized yield of 0.6%, with a dividend payout ratio of 28.56%.

Beacon Bridge Wealth Partners LLC acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 357 shares of the retailer's stock, valued at approximately $353,000.

Other large investors have also recently made changes to their positions in the company. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $25,000. Anderson Financial Strategies LLC raised its holdings 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 purchasing an additional 36 shares during the last quarter. eCIO Inc. purchased a new stake in shares of Costco Wholesale in the first quarter valued at about $48,000. Aspect Partners LLC raised its holdings 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 purchasing an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Costco Wholesale in the first quarter valued at about $61,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Price Performance

COST opened at $942.89 on Friday. The firm has a market cap of $418.15 billion, a P/E ratio of 51.78, a PEG ratio of 5.55 and a beta of 0.98. The firm has a 50-day moving average of $952.50 and a 200 day moving average of $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 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 issued its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $5.15 earnings per share. On average, research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 28.56%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COST shares. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a 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. Evercore ISI lowered their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a report on Friday, September 26th. Finally, Morgan Stanley reduced their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,066.23.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock worth $7,588,685 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Company 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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