Onyx Bridge Wealth Group LLC Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Onyx Bridge Wealth Group LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 73.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 956 shares of the retailer’s stock after buying an additional 406 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Costco Wholesale were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after buying an additional 473,702 shares in the last quarter. Capital World Investors lifted its holdings in Costco Wholesale by 8.1% in the 1st quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares in the last quarter. Legal & General Group Plc lifted its holdings in Costco Wholesale by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after purchasing an additional 88,550 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Costco Wholesale by 28.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock valued at $1,307,363,000 after purchasing an additional 338,780 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in Costco Wholesale by 99,208.6% in the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after purchasing an additional 1,473,248 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,224 shares of company stock valued at $9,974,973. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. DA Davidson restated a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Evercore ISI raised their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $890.07.

Costco Wholesale Price Performance

COST stock opened at $885.29 on Friday. The business has a 50 day moving average price of $888.57 and a 200 day moving average price of $831.04. The stock has a market cap of $392.48 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.86 earnings per share. Equities research analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

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.