Broadway Wealth Solutions Inc. Raises Stock Position in Costco Wholesale Corporation $COST

Broadway Wealth Solutions Inc. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 22.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,970 shares of the retailer’s stock after acquiring an additional 366 shares during the period. Costco Wholesale comprises approximately 1.2% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 14th biggest holding. Broadway Wealth Solutions Inc.’s holdings in Costco Wholesale were worth $1,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Corps Capital Advisors LLC grew its stake in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares during the last quarter. Bank & Trust Co lifted its holdings in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after acquiring an additional 11 shares during the last quarter. Amplius Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 1.3% in the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after acquiring an additional 11 shares during the last quarter. Finally, Farrell Financial LLC lifted its holdings in shares of Costco Wholesale by 2.2% in the 1st quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock worth $493,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.0%

NASDAQ:COST opened at $925.63 on Wednesday. Costco Wholesale Corporation has a one year low of $867.16 and a one year 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. The firm has a market cap of $410.50 billion, a P/E ratio of 50.83, a P/E/G ratio of 5.59 and a beta of 0.97. The firm has a 50-day simple moving average of $954.76 and a 200-day simple moving average of $971.40.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $5.15 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is currently 28.56%.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating and issued a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Daiwa Capital Markets lowered their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a report on Tuesday. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the stock a “neutral” rating in a report on Friday. DA Davidson restated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Eighteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,067.19.

Costco Wholesale 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.