Wellspring Financial Advisors LLC Acquires 333 Shares of Costco Wholesale Corporation $COST

Wellspring Financial Advisors LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,314 shares of the retailer’s stock after acquiring an additional 333 shares during the period. Wellspring Financial Advisors LLC’s holdings in Costco Wholesale were worth $3,281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $25,000. Soundwatch Capital LLC boosted its stake in Costco Wholesale by 635.7% in the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after buying an additional 2,206 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Costco Wholesale in the 2nd quarter valued at $31,000. Anderson Financial Strategies LLC grew its position in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares during the period. Finally, Financial Connections Group Inc. raised its stake in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST stock opened at $911.96 on Tuesday. The company has a 50 day moving average price of $921.94 and a 200 day moving average price of $958.18. Costco Wholesale Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23. 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 market capitalization of $404.16 billion, a PE ratio of 50.08, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $5.15 EPS. Analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. The trade was a 54.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tiffany Marie Barbre sold 1,239 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the transaction, the insider directly owned 5,155 shares in the company, valued at $4,817,966.10. This trade represents a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,720 shares of company stock valued at $9,010,257. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on COST. JPMorgan Chase & Co. reduced their target price on shares of Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Truist Financial reduced their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Oppenheimer dropped their price objective on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Hovde Group initiated coverage on Costco Wholesale in a report on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 target price on the stock. Eighteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,025.07.

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.