Bernard Wealth Management Corp. Has $1.54 Million Stock Position in Costco Wholesale Corporation $COST

Bernard Wealth Management Corp. decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,555 shares of the retailer’s stock after selling 39 shares during the quarter. Costco Wholesale makes up about 0.7% of Bernard Wealth Management Corp.’s holdings, making the stock its 24th biggest position. Bernard Wealth Management Corp.’s holdings in Costco Wholesale were worth $1,539,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. SLT Holdings LLC increased its stake in shares of Costco Wholesale by 30.0% during the 2nd quarter. SLT Holdings LLC now owns 676 shares of the retailer’s stock worth $669,000 after purchasing an additional 156 shares during the last quarter. Summit Place Financial Advisors LLC grew its stake in Costco Wholesale by 7.9% in the 2nd quarter. Summit Place Financial Advisors LLC now owns 2,575 shares of the retailer’s stock valued at $2,550,000 after buying an additional 188 shares during the last quarter. Aberdeen Group plc grew its stake in Costco Wholesale by 1.0% in the 2nd quarter. Aberdeen Group plc now owns 384,978 shares of the retailer’s stock valued at $378,297,000 after buying an additional 3,624 shares during the last quarter. Agate Pass Investment Management LLC grew its stake in Costco Wholesale by 16.7% in the 2nd quarter. Agate Pass Investment Management LLC now owns 2,931 shares of the retailer’s stock valued at $2,902,000 after buying an additional 419 shares during the last quarter. Finally, Zullo Investment Group Inc. grew its stake in Costco Wholesale by 0.7% in the 2nd quarter. Zullo Investment Group Inc. now owns 1,924 shares of the retailer’s stock valued at $1,905,000 after buying an additional 14 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 completion of the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale 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 transaction, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,981 shares of company stock valued at $7,588,685. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COST shares. Truist Financial lowered their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Sanford C. Bernstein raised their target price on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $1,130.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. Argus raised their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,066.23.

Costco Wholesale Price Performance

NASDAQ:COST opened at $930.01 on Friday. The company has a 50-day moving average of $952.05 and a 200-day moving average of $971.77. The company has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 5.64 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping 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 net margin of 2.94% and a return on equity of 30.09%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $5.15 EPS. As a group, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 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.