Bristlecone Advisors LLC Purchases 1,248 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Bristlecone Advisors LLC grew its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,609 shares of the retailer's stock after purchasing an additional 1,248 shares during the quarter. Costco Wholesale makes up 2.2% of Bristlecone Advisors LLC's investment portfolio, making the stock its 10th largest position. Bristlecone Advisors LLC's holdings in Costco Wholesale were worth $27,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COST. Personal CFO Solutions LLC grew its position in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after purchasing an additional 167 shares during the last quarter. F&V Capital Management LLC purchased a new stake in shares of Costco Wholesale in the first quarter valued at about $236,000. Graybill Wealth Management LTD. purchased a new stake in shares of Costco Wholesale in the first quarter valued at about $3,095,000. Curat Global LLC purchased a new stake in shares of Costco Wholesale in the first quarter valued at about $241,000. Finally, Gateway Wealth Partners LLC boosted its holdings in shares of Costco Wholesale by 2.0% in the first quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock valued at $1,305,000 after acquiring an additional 27 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST opened at $977.45 on Friday. The firm has a 50-day moving average price of $979.28 and a 200 day moving average price of $984.62. The firm has a market capitalization of $433.48 billion, a PE ratio of 55.44, a P/E/G ratio of 6.02 and a beta of 0.96. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52-week low of $820.45 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the firm posted $3.78 EPS. Costco Wholesale's revenue was up 8.0% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Analyst Ratings Changes

COST has been the subject of several recent analyst reports. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday. Morgan Stanley lifted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Truist Financial boosted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and a consensus price target of $1,040.81.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

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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