Costco Wholesale Co. (NASDAQ:COST) is Hollencrest Capital Management’s 8th Largest Position

Hollencrest Capital Management decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 72,923 shares of the retailer’s stock after selling 2,248 shares during the period. Costco Wholesale accounts for approximately 2.7% of Hollencrest Capital Management’s portfolio, making the stock its 8th largest holding. Hollencrest Capital Management’s holdings in Costco Wholesale were worth $64,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares during the period. Wulff Hansen & CO. boosted its stake in shares of Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Costco Wholesale by 51,747.5% during the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Costco Wholesale by 1.2% in the first 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 during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ COST traded up $15.08 on Friday, reaching $929.01. The company’s stock had a trading volume of 637,036 shares, compared to its average volume of 1,917,361. The firm’s 50 day moving average is $891.92 and its two-hundred day moving average is $848.69. The stock has a market cap of $411.62 billion, a PE ratio of 56.04, a PEG ratio of 5.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a twelve month low of $562.01 and a twelve month high of $929.70.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $4.86 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COST. Evercore ISI upped their price target on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. TD Cowen upped their target price on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,636 shares of company stock worth $11,238,510. Company insiders own 0.18% of the company’s stock.

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.