Coastal Bridge Advisors LLC Buys 42 Shares of Costco Wholesale Co. (NASDAQ:COST)

Coastal Bridge Advisors LLC raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the retailer’s stock after acquiring an additional 42 shares during the period. Coastal Bridge Advisors LLC’s holdings in Costco Wholesale were worth $1,105,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. NewEdge Advisors LLC grew its stake in Costco Wholesale by 11.6% during the second quarter. NewEdge Advisors LLC now owns 79,146 shares of the retailer’s stock worth $67,274,000 after buying an additional 8,243 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in Costco Wholesale by 5,092.0% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,502 shares of the retailer’s stock worth $47,176,000 after acquiring an additional 54,433 shares during the last quarter. Copperwynd Financial LLC increased its holdings in Costco Wholesale by 3.5% during the 2nd quarter. Copperwynd Financial LLC now owns 1,621 shares of the retailer’s stock valued at $1,333,000 after purchasing an additional 55 shares in the last quarter. Doheny Asset Management CA raised its position in Costco Wholesale by 4.5% in the 2nd quarter. Doheny Asset Management CA now owns 4,221 shares of the retailer’s stock valued at $3,588,000 after purchasing an additional 180 shares during the last quarter. Finally, Buck Wealth Strategies LLC acquired a new position in Costco Wholesale in the second quarter worth $300,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST opened at $885.62 on Friday. The firm’s 50 day moving average price is $870.67 and its two-hundred day moving average price is $816.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83. The firm has a market cap of $392.62 billion, a P/E ratio of 54.87, a PEG ratio of 5.47 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.86 EPS. On average, analysts forecast that Costco Wholesale Co. will post 16.02 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Analysts Set New Price Targets

COST has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Costco Wholesale from $915.00 to $925.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley upped their price objective on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $881.19.

Insider Transactions at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

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.