Three Bridge Wealth Advisors LLC Grows Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Three Bridge Wealth Advisors LLC increased its stake in Costco Wholesale Corporation by 63.4% in the second quarter, raising its hold to 938 shares worth $929,000.
• Analysts have mixed views on Costco's stock, with 19 analysts rating it as a Buy and 11 as Hold, while price targets range from $990 to $1,200.
• Costco recently reported $5.87 earnings per share for the quarter, surpassing estimates, and announced a quarterly dividend of $1.30 per share.

Three Bridge Wealth Advisors LLC lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 63.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 938 shares of the retailer's stock after purchasing an additional 364 shares during the quarter. Three Bridge Wealth Advisors LLC's holdings in Costco Wholesale were worth $929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COST. Brighton Jones LLC raised its position in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after purchasing an additional 130 shares during the last quarter. Piscataqua Savings Bank raised its position in shares of Costco Wholesale by 75.0% in the 1st quarter. Piscataqua Savings Bank now owns 175 shares of the retailer's stock valued at $166,000 after purchasing an additional 75 shares during the last quarter. Sunflower Bank N.A. raised its position in shares of Costco Wholesale by 1.9% in the 1st quarter. Sunflower Bank N.A. now owns 700 shares of the retailer's stock valued at $662,000 after purchasing an additional 13 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its position in Costco Wholesale by 7.0% during the 1st quarter. Gemmer Asset Management LLC now owns 907 shares of the retailer's stock worth $858,000 after buying an additional 59 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on COST shares. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup reduced 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 report on Monday, September 29th. Argus raised their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Truist Financial reduced their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,067.19.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 in the last quarter. Company insiders own 0.18% of the company's stock.

Costco Wholesale Trading Down 0.2%

Shares of COST stock opened at $915.38 on Monday. The stock's fifty day moving average is $953.54 and its two-hundred day moving average is $972.15. 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 firm has a market capitalization of $405.95 billion, a P/E ratio of 50.27, a PEG ratio of 5.55 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 announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter last year, the firm posted $5.15 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is currently 28.56%.

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.

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