Beacon Pointe Advisors LLC Has $35.86 Million Holdings in Costco Wholesale Corporation $COST

Beacon Pointe Advisors LLC grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,228 shares of the retailer’s stock after acquiring an additional 941 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Costco Wholesale were worth $35,863,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Evercore ISI reduced 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 report on Friday, September 26th. Citigroup lowered their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Oppenheimer decreased their target price on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Eighteen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,025.07.

Costco Wholesale Stock Down 0.2%

Shares of NASDAQ COST opened at $911.96 on Tuesday. 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. The business has a fifty day moving average of $921.94 and a two-hundred day moving average of $958.18. The stock has a market cap of $404.16 billion, a PE ratio of 50.08, a PEG ratio of 5.54 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $86.01 billion. During the same quarter last year, the company posted $5.15 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is 28.56%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. The trade was a 25.77% 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 hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the sale, the executive vice president owned 6,851 shares in the company, valued at $6,410,343.68. The trade was a 28.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,720 shares of company stock valued at $9,010,257 over the last quarter. 0.18% of the stock is owned by 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.