Onyx Bridge Wealth Group LLC Sells 122 Shares of Costco Wholesale Co. (NASDAQ:COST)

Onyx Bridge Wealth Group LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 18.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557 shares of the retailer’s stock after selling 122 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Costco Wholesale were worth $368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Costco Wholesale by 1.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after acquiring an additional 273 shares in the last quarter. Keating Investment Counselors Inc. increased its holdings in Costco Wholesale by 43.0% during the third quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock valued at $1,493,000 after buying an additional 795 shares during the period. Cerity Partners LLC increased its holdings in Costco Wholesale by 28.9% during the fourth quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after buying an additional 61,122 shares during the period. Rice Partnership LLC increased its holdings in Costco Wholesale by 21.0% during the third quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock valued at $6,633,000 after buying an additional 2,038 shares during the period. Finally, Rappaport Reiches Capital Management LLC increased its holdings in Costco Wholesale by 23.5% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock valued at $538,000 after buying an additional 155 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST traded down $1.74 on Friday, reaching $709.51. 2,190,356 shares of the company’s stock traded hands, compared to its average volume of 1,668,139. Costco Wholesale Co. has a fifty-two week low of $476.75 and a fifty-two week high of $787.08. The firm has a market cap of $314.67 billion, a price-to-earnings ratio of 46.40, a P/E/G ratio of 4.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The stock has a 50 day moving average price of $730.29 and a 200-day moving average price of $660.55.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. During the same quarter in the prior year, the company earned $3.30 EPS. Costco Wholesale’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $1.16 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.65%. Costco Wholesale’s dividend payout ratio is 26.68%.

Insider Activity

In other news, Director W Craig Jelinek sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total value of $5,487,440.00. Following the completion of the sale, the director now owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Russell D. Miller sold 785 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director W Craig Jelinek sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the completion of the sale, the director now directly owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The disclosure for this sale can be found here. Insiders sold a total of 11,727 shares of company stock valued at $8,170,388 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Tigress Financial lifted their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Loop Capital cut their price target on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Roth Mkm lifted their price target on shares of Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $691.28.

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.