Bfsg LLC Sells 575 Shares of Costco Wholesale Co. (NASDAQ:COST)

Bfsg LLC lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,745 shares of the retailer’s stock after selling 575 shares during the quarter. Costco Wholesale accounts for approximately 1.3% of Bfsg LLC’s portfolio, making the stock its 12th largest position. Bfsg LLC’s holdings in Costco Wholesale were worth $9,983,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Main Street Financial Solutions LLC raised its position in shares of Costco Wholesale by 4.7% during the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 79 shares during the period. Metis Global Partners LLC grew its holdings in shares of Costco Wholesale by 15.6% during the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after buying an additional 2,909 shares during the last quarter. Zhang Financial LLC increased its position in shares of Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares in the last quarter. Strong Tower Advisory Services raised its holdings in shares of Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after acquiring an additional 137 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Costco Wholesale by 6.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 27,902 shares of the retailer’s stock valued at $18,418,000 after acquiring an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Costco Wholesale stock traded down $1.42 during mid-day trading on Thursday, reaching $886.63. The company’s stock had a trading volume of 1,709,156 shares, compared to its average volume of 1,963,327. The firm’s fifty day moving average price is $852.83 and its two-hundred day moving average price is $792.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a 12-month low of $539.31 and a 12-month high of $918.93. The company has a market capitalization of $393.07 billion, a P/E ratio of 54.93, a PEG ratio of 5.84 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 earnings per share. Sell-side analysts predict that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is presently 28.75%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Oppenheimer decreased their price objective on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Tigress Financial increased their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial lifted their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Telsey Advisory Group reissued an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research report on Tuesday. Finally, Evercore ISI reduced their price objective on shares of Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $824.50.

Insider Activity

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 over the last ninety days. Company insiders own 0.18% of the company’s stock.

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.