BridgePort Financial Solutions LLC Invests $257,000 in Costco Wholesale Corporation $COST

BridgePort Financial Solutions LLC acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 260 shares of the retailer’s stock, valued at approximately $257,000.

Other hedge funds have also added to or reduced their stakes in the company. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale in the second quarter worth $25,000. Anderson Financial Strategies LLC lifted its holdings in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares during the period. eCIO Inc. acquired a new position in Costco Wholesale during the 1st quarter worth about $48,000. Aspect Partners LLC grew its position in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after buying an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in shares of Costco Wholesale in the first quarter valued at about $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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 transaction, the executive vice president directly owned 9,740 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock worth $7,588,685 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI cut their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Finally, Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Nineteen equities research 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 price target of $1,067.19.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $915.38 on Friday. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company’s 50 day moving average price is $953.54 and its two-hundred day moving average price is $971.61. The stock has a market cap of $405.95 billion, a P/E ratio of 50.27, a P/E/G ratio of 5.55 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $5.15 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st 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, August 1st. Costco Wholesale’s payout ratio is presently 28.56%.

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.