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

Burling Wealth Partners LLC lowered its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,985 shares of the retailer’s stock after selling 349 shares during the period. Burling Wealth Partners LLC’s holdings in Costco Wholesale were worth $3,945,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of COST. Bulwark Capital Corp bought a new position in Costco Wholesale in the 2nd quarter valued at about $25,000. LFA Lugano Financial Advisors SA bought a new position in Costco Wholesale during the 2nd quarter worth $31,000. Anderson Financial Strategies LLC raised its holdings in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares in the last quarter. Financial Connections Group Inc. raised its holdings in Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after acquiring an additional 39 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in shares of Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after acquiring an additional 18 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on COST shares. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Mizuho dropped their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Evercore ISI cut their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Finally, Daiwa Capital Markets reduced their target price on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Costco Wholesale Trading Up 1.2%

NASDAQ COST opened at $925.08 on Friday. The company has a market cap of $409.98 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a twelve month low of $871.71 and a twelve month high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average is $935.74 and its 200 day moving average is $967.11.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $5.15 earnings per share. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insider Activity

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the sale, the executive vice president owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. This represents a 54.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 10,320 shares of company stock worth $9,605,487. 0.18% of the stock is owned by corporate insiders.

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.