BNC Wealth Management LLC Sells 2,579 Shares of Costco Wholesale Co. (NASDAQ:COST)

BNC Wealth Management LLC lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 38.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,049 shares of the retailer's stock after selling 2,579 shares during the quarter. Costco Wholesale comprises about 1.4% of BNC Wealth Management LLC's investment portfolio, making the stock its 24th biggest position. BNC Wealth Management LLC's holdings in Costco Wholesale were worth $3,829,000 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. Goldstone Financial Group LLC lifted its position in Costco Wholesale by 52.9% during the 1st quarter. Goldstone Financial Group LLC now owns 911 shares of the retailer's stock worth $862,000 after acquiring an additional 315 shares during the last quarter. CVA Family Office LLC lifted its position in Costco Wholesale by 4.4% during the 1st quarter. CVA Family Office LLC now owns 1,995 shares of the retailer's stock worth $1,887,000 after acquiring an additional 84 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in Costco Wholesale by 5.8% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,530 shares of the retailer's stock worth $1,448,000 after acquiring an additional 84 shares during the last quarter. West Branch Capital LLC lifted its position in Costco Wholesale by 14.4% during the 1st quarter. West Branch Capital LLC now owns 3,432 shares of the retailer's stock worth $3,246,000 after acquiring an additional 433 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Costco Wholesale by 1.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 22,791 shares of the retailer's stock worth $21,555,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other news, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the sale, the executive vice president now owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock valued at $10,825,205. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

NASDAQ:COST traded down $12.50 during mid-day trading on Friday, hitting $990.21. The company's stock had a trading volume of 1,782,964 shares, compared to its average volume of 2,067,253. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $439.14 billion, a price-to-earnings ratio of 58.15, a P/E/G ratio of 6.15 and a beta of 1.00. The stock has a fifty day moving average of $1,000.43 and a 200-day moving average of $980.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.78 earnings per share. As a group, equities analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley boosted 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. 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 Tuesday, June 3rd. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Robert W. Baird upped their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,035.32.

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.