Sunbeam Capital Management LLC Has $1.31 Million Holdings in Costco Wholesale Corporation $COST

Sunbeam Capital Management LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 23.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,323 shares of the retailer’s stock after buying an additional 254 shares during the quarter. Costco Wholesale accounts for about 1.0% of Sunbeam Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Sunbeam Capital Management LLC’s holdings in Costco Wholesale were worth $1,310,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CFM Wealth Partners LLC lifted its holdings in shares of Costco Wholesale by 2.2% during the second quarter. CFM Wealth Partners LLC now owns 12,151 shares of the retailer’s stock worth $12,028,000 after buying an additional 263 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Costco Wholesale by 3.9% during the second quarter. KLP Kapitalforvaltning AS now owns 158,340 shares of the retailer’s stock worth $156,747,000 after buying an additional 6,000 shares during the last quarter. Tyche Wealth Partners LLC lifted its holdings in shares of Costco Wholesale by 1.0% during the second quarter. Tyche Wealth Partners LLC now owns 5,915 shares of the retailer’s stock worth $5,855,000 after buying an additional 61 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $262,000. Finally, HMV Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $211,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was 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 in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company’s stock, 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. Insiders sold 7,981 shares of company stock worth $7,588,685 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COST. DA Davidson restated a “neutral” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research report on Saturday, September 27th. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Oppenheimer restated an “outperform” rating and set a $1,130.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Finally, Daiwa Capital Markets lowered their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,067.19.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $910.94 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The stock has a fifty day moving average price of $953.08 and a two-hundred day moving average price of $972.16. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The firm has a market capitalization of $403.98 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.55 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same period in the prior year, the company posted $5.15 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend 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.