Costco Wholesale Co. (NASDAQ:COST) Position Reduced by BNC Wealth Management LLC

BNC Wealth Management LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,049 shares of the retailer’s stock after selling 2,579 shares during the period. Costco Wholesale accounts for about 1.4% of BNC Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. BNC Wealth Management LLC’s holdings in Costco Wholesale were worth $3,829,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Goldstone Financial Group LLC increased its holdings in shares of Costco Wholesale by 52.9% in the first quarter. Goldstone Financial Group LLC now owns 911 shares of the retailer’s stock valued at $862,000 after buying an additional 315 shares in the last quarter. CVA Family Office LLC raised its stake in Costco Wholesale by 4.4% during the 1st quarter. CVA Family Office LLC now owns 1,995 shares of the retailer’s stock valued at $1,887,000 after purchasing an additional 84 shares during the period. Elevation Point Wealth Partners LLC raised its stake in Costco Wholesale by 5.8% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,530 shares of the retailer’s stock valued at $1,448,000 after purchasing an additional 84 shares during the period. West Branch Capital LLC raised its stake in Costco Wholesale by 14.4% during the 1st quarter. West Branch Capital LLC now owns 3,432 shares of the retailer’s stock valued at $3,246,000 after purchasing an additional 433 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in Costco Wholesale by 1.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 22,791 shares of the retailer’s stock valued at $21,555,000 after purchasing an additional 259 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president now directly owns 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 900 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock valued at $10,825,205 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $990.21 on Friday. Costco Wholesale Co. has a 12-month low of $793.00 and a 12-month high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $439.14 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The firm has a 50-day moving average price of $1,000.43 and a 200 day moving average price of $980.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the business posted $3.78 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio is 29.50%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COST. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Evercore ISI boosted their price target on shares of Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Barclays boosted their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Robert W. Baird boosted their price target on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,035.32.

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.