Sagespring Wealth Partners LLC Has $7.60 Million Position in Costco Wholesale Corporation $COST

Key Points

• Sagespring Wealth Partners LLC increased its position in Costco Wholesale Corporation by 8.2%, owning 7,672 shares worth approximately $7.60 million as of the second quarter.
• Several institutional investors have also modified their holdings in Costco, with Frazier Financial Advisors raising their position by 72% during the same period.
• Costco's most recent earnings report revealed a quarterly revenue of $86.16 billion and earnings per share of $5.87, exceeding analysts' estimates.

Sagespring Wealth Partners LLC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,672 shares of the retailer's stock after acquiring an additional 584 shares during the period. Sagespring Wealth Partners LLC's holdings in Costco Wholesale were worth $7,595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Frazier Financial Advisors LLC lifted its position in shares of Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after acquiring an additional 18 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Costco Wholesale by 2.1% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 9,336 shares of the retailer's stock valued at $9,242,000 after acquiring an additional 196 shares during the period. Morningstar Investment Management LLC acquired a new position in shares of Costco Wholesale during the 2nd quarter valued at $1,159,000. Baker Boyer National Bank lifted its position in shares of Costco Wholesale by 13.7% during the 2nd quarter. Baker Boyer National Bank now owns 2,037 shares of the retailer's stock valued at $2,017,000 after acquiring an additional 246 shares during the period. Finally, RFG Advisory LLC increased its stake in Costco Wholesale by 26.0% during the 2nd quarter. RFG Advisory LLC now owns 8,305 shares of the retailer's stock valued at $8,222,000 after purchasing an additional 1,715 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COST. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the company a "neutral" rating in a research note on Friday, September 26th. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Citigroup decreased their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a research note on Monday, September 29th. Argus upped their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Finally, Morgan Stanley reduced their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a research note on Friday, September 26th. Twenty analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,068.04.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the company's 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 sale, the executive vice president directly owned 9,740 shares of the company's stock, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $946.51 on Wednesday. The company's 50-day moving average is $951.71 and its 200 day moving average is $971.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company has a market capitalization of $419.47 billion, a P/E ratio of 51.98, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. 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 quarterly 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 company had revenue of $86.16 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $5.15 EPS. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale 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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