Beaumont Financial Partners LLC Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Beaumont Financial Partners LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 23.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,617 shares of the retailer’s stock after purchasing an additional 867 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Costco Wholesale were worth $2,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SP Asset Management acquired a new position in Costco Wholesale during the 1st quarter worth $206,000. Capital Advisors Ltd. LLC boosted its position in shares of Costco Wholesale by 26.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 808 shares of the retailer’s stock worth $465,000 after acquiring an additional 170 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Costco Wholesale by 24.5% during the 1st quarter. Banco Santander S.A. now owns 26,488 shares of the retailer’s stock worth $15,253,000 after acquiring an additional 5,218 shares in the last quarter. Goodman Advisory Group LLC boosted its position in shares of Costco Wholesale by 4.5% during the 1st quarter. Goodman Advisory Group LLC now owns 535 shares of the retailer’s stock worth $308,000 after acquiring an additional 23 shares in the last quarter. Finally, Wealthsource Partners LLC lifted its holdings in shares of Costco Wholesale by 173.0% in the 1st quarter. Wealthsource Partners LLC now owns 13,046 shares of the retailer’s stock valued at $7,513,000 after purchasing an additional 8,267 shares during the last quarter. Hedge funds and other institutional investors own 67.52% of the company’s stock.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Mary Agnes Wilderotter bought 850 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was acquired at an average price of $470.74 per share, for a total transaction of $400,129.00. Following the completion of the purchase, the director now owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mary Agnes Wilderotter purchased 850 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was purchased at an average cost of $470.74 per share, with a total value of $400,129.00. Following the completion of the acquisition, the director now directly owns 11,295 shares of the company’s stock, valued at approximately $5,317,008.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth D. Denman sold 300 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the completion of the transaction, the director now directly owns 5,197 shares of the company’s stock, valued at $2,711,170.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,300 shares of company stock worth $2,609,904. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of several analyst reports. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Truist Financial upped their price target on Costco Wholesale from $543.00 to $571.00 in a report on Thursday. Telsey Advisory Group lowered their target price on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Citigroup raised their price objective on Costco Wholesale from $510.00 to $545.00 in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $576.68.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $2.61 during trading on Friday, reaching $540.67. 1,711,488 shares of the company traded hands, compared to its average volume of 2,268,652. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The firm’s fifty day simple moving average is $492.92 and its 200 day simple moving average is $515.12. The stock has a market cap of $239.50 billion, a P/E ratio of 42.57, a PEG ratio of 4.53 and a beta of 0.69.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its earnings results on Thursday, May 26th. The retailer reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.17. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The business had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. During the same period in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, research analysts anticipate that Costco Wholesale Co. will post 13.05 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s dividend payout ratio is presently 28.35%.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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