Newbridge Financial Services Group Inc. Has $2.21 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Newbridge Financial Services Group Inc. trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.2% during the second quarter, Holdings Channel.com reports. The firm owned 2,598 shares of the retailer’s stock after selling 296 shares during the period. Costco Wholesale accounts for approximately 0.8% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 25th largest position. Newbridge Financial Services Group Inc.’s holdings in Costco Wholesale were worth $2,208,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Strong Tower Advisory Services raised its holdings in Costco Wholesale by 7.9% during the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after purchasing an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Costco Wholesale by 52.1% in the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after acquiring an additional 2,620 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after acquiring an additional 656 shares during the period. Parcion Private Wealth LLC raised its position in shares of Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after acquiring an additional 1,319 shares during the last quarter. Finally, Aspiriant LLC lifted its stake in shares of Costco Wholesale by 6.1% in the 1st quarter. Aspiriant LLC now owns 2,327 shares of the retailer’s stock valued at $1,705,000 after purchasing an additional 134 shares during the period. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Trading Down 1.0 %

Shares of COST stock opened at $877.38 on Wednesday. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The company has a market capitalization of $388.97 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. The firm has a 50 day moving average price of $871.96 and a two-hundred day moving average price of $819.44. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last released its quarterly 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. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the firm posted $4.86 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Costco Wholesale Co. will post 16.02 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is 28.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COST shares. Wells Fargo & Company lifted their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Bank of America boosted their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and increased their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $883.04.

Insiders Place Their Bets

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

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.