Bridgewealth Advisory Group LLC Has $297,000 Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Bridgewealth Advisory Group LLC significantly reduced its position in Costco Wholesale by 65.7%, now holding only 314 shares valued at approximately $297,000.
• Costco Wholesale announced a quarterly dividend of $1.30 per share to be paid on August 15th, representing a 0.5% annual yield.
• Analysts maintain a consensus rating of "Moderate Buy" for Costco, with target prices ranging from $1,035.00 to $1,160.00 according to recent reports.

Bridgewealth Advisory Group LLC reduced its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 65.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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.

Several other large investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $25,000. Aspect Partners LLC grew its holdings in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co grew its holdings in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COST has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Stock Performance

Shares of COST traded down $3.46 during trading hours on Thursday, reaching $975.39. 1,806,960 shares of the company traded hands, compared to its average volume of 2,170,789. The stock's fifty day moving average is $973.82 and its 200 day moving average is $985.76. The stock has a market cap of $432.57 billion, a P/E ratio of 55.33, a price-to-earnings-growth ratio of 6.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.78 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last three months. 0.18% of the stock is currently owned by company 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.