Burling Wealth Partners LLC Sells 349 Shares of Costco Wholesale Corporation $COST

Burling Wealth Partners LLC decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,985 shares of the retailer’s stock after selling 349 shares during the quarter. Burling Wealth Partners LLC’s holdings in Costco Wholesale were worth $3,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale in the second quarter worth approximately $25,000. LFA Lugano Financial Advisors SA bought a new stake in Costco Wholesale in the second quarter worth about $31,000. Anderson Financial Strategies LLC lifted its stake 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 purchasing an additional 36 shares during the last quarter. Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after buying an additional 39 shares during the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after purchasing an additional 18 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.2%

Shares of COST stock opened at $925.08 on Friday. The stock has a fifty day simple moving average of $935.74 and a two-hundred day simple moving average of $967.11. The firm has a market capitalization of $409.98 billion, a PE ratio of 50.80, a PEG ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 52-week low of $871.71 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

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

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In other news, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares in the company, valued at approximately $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the sale, the executive vice president directly owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This represents a 28.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 10,320 shares of company stock valued at $9,605,487. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COST shares. Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Truist Financial reduced their price target on 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. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. BTIG Research assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price for the company. Finally, Morgan Stanley lowered their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,063.88.

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.