SevenBridge Financial Group LLC Grows Holdings in Costco Wholesale Corporation $COST

by · The Markets Daily

SevenBridge Financial Group LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 22.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the retailer’s stock after purchasing an additional 617 shares during the period. SevenBridge Financial Group LLC’s holdings in Costco Wholesale were worth $3,373,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COST. Luminist Capital LLC raised its holdings in Costco Wholesale by 9.4% during the 1st quarter. Luminist Capital LLC now owns 128 shares of the retailer’s stock valued at $122,000 after buying an additional 11 shares during the period. Birchbrook Inc. increased its stake in shares of Costco Wholesale by 2.5% during the first quarter. Birchbrook Inc. now owns 456 shares of the retailer’s stock valued at $431,000 after buying an additional 11 shares during the period. Ridgewood Investments LLC lifted its stake in Costco Wholesale by 7.4% in the second quarter. Ridgewood Investments LLC now owns 159 shares of the retailer’s stock worth $157,000 after acquiring an additional 11 shares during the period. Wagner Wealth Management LLC grew its position in shares of Costco Wholesale by 3.4% in the 2nd quarter. Wagner Wealth Management LLC now owns 330 shares of the retailer’s stock worth $326,000 after buying an additional 11 shares during the last quarter. Finally, Hobbs Wealth Management LLC increased its position in shares of Costco Wholesale by 4.4% during the second quarter. Hobbs Wealth Management LLC now owns 262 shares of the retailer’s stock worth $259,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $884.47 on Monday. Costco Wholesale Corporation has a fifty-two week low of $867.12 and a fifty-two week high of $1,078.23. The firm has a 50-day simple moving average of $916.22 and a 200-day simple moving average of $950.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.04. The company has a market capitalization of $392.67 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 5.99 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 EPS for the quarter, topping the consensus estimate of $4.27 by $0.07. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The business had revenue of $67.31 billion during the quarter, compared to analysts’ expectations of $67.03 billion. During the same quarter in the prior year, the business earned $4.04 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, October 31st. Costco Wholesale’s payout ratio is 27.85%.

Wall Street Analyst Weigh In

A number of analysts have commented on COST shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday. Wolfe Research started coverage on shares of Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating for the company. Daiwa Capital Markets dropped their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Raymond James Financial decreased their price target on shares of Costco Wholesale from $1,070.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Roth Capital set a $769.00 price objective on shares of Costco Wholesale and gave the stock a “sell” rating in a research report on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $992.70.

View Our Latest Stock Analysis on COST

Insider Activity

In other news, insider Tiffany Marie Barbre sold 1,239 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the transaction, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,720 shares of company stock valued at $9,010,257. Company insiders own 0.10% of the company’s stock.

Costco Wholesale Company Profile

(Free Report)

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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