Petra Financial Advisors Inc. Boosts Stock Holdings in Costco Wholesale Corporation $COST

Petra Financial Advisors Inc. grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 80.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,782 shares of the retailer’s stock after purchasing an additional 797 shares during the period. Costco Wholesale comprises about 1.1% of Petra Financial Advisors Inc.’s portfolio, making the stock its 20th largest position. Petra Financial Advisors Inc.’s holdings in Costco Wholesale were worth $1,764,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Costco Wholesale by 0.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,099 shares of the retailer’s stock valued at $3,877,000 after purchasing an additional 31 shares during the period. WealthBridge Capital Management LLC grew its stake in Costco Wholesale by 4.1% in the 1st quarter. WealthBridge Capital Management LLC now owns 817 shares of the retailer’s stock valued at $773,000 after purchasing an additional 32 shares during the period. Finally, CFM Wealth Partners LLC increased its position in shares of Costco Wholesale by 5.8% during the 1st quarter. CFM Wealth Partners LLC now owns 11,888 shares of the retailer’s stock valued at $11,243,000 after purchasing an additional 647 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST stock opened at $929.85 on Tuesday. The firm’s 50 day moving average is $944.24 and its 200 day moving average is $971.91. The stock has a market capitalization of $412.09 billion, a P/E ratio of 51.06, a PEG ratio of 5.66 and a beta of 0.98. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.

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

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid 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 is Friday, October 31st. Costco Wholesale’s payout ratio is presently 28.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COST. Oppenheimer reissued an “outperform” rating and issued a $1,130.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. JPMorgan Chase & Co. dropped their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Truist Financial decreased their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. DA Davidson reaffirmed a “neutral” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. Finally, BTIG Research initiated coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price objective for the company. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,068.15.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,920 shares of company stock valued at $7,373,175. 0.18% of the stock is owned by company insiders.

Costco Wholesale Company 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.