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

Hollencrest Capital Management trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,673 shares of the retailer’s stock after selling 4,218 shares during the period. Costco Wholesale comprises 2.8% of Hollencrest Capital Management’s investment portfolio, making the stock its 8th largest position. Hollencrest Capital Management’s holdings in Costco Wholesale were worth $64,950,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COST. Jennison Associates LLC increased its stake in Costco Wholesale by 3.9% during the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock valued at $3,175,579,000 after purchasing an additional 125,441 shares during the last quarter. Burling Wealth Partners LLC lifted its holdings in Costco Wholesale by 0.9% in the 1st quarter. Burling Wealth Partners LLC now owns 4,334 shares of the retailer’s stock valued at $4,099,000 after acquiring an additional 37 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Costco Wholesale in the 1st quarter valued at about $225,000. Acas LLC lifted its holdings in Costco Wholesale by 1.0% in the 1st quarter. Acas LLC now owns 3,615 shares of the retailer’s stock valued at $3,612,000 after acquiring an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Costco Wholesale by 36.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 9,631 shares of the retailer’s stock valued at $9,109,000 after acquiring an additional 2,566 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,547 shares of company stock valued at $9,472,510. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.2%

Shares of Costco Wholesale stock opened at $955.43 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $423.71 billion, a P/E ratio of 54.24, a P/E/G ratio of 5.91 and a beta of 0.97. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The business’s 50 day moving average is $1,000.06 and its 200-day moving average is $982.43.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same period in the previous year, the firm earned $3.78 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, August 1st. Costco Wholesale’s dividend payout ratio is 29.50%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Cfra Research upgraded Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Loop Capital dropped their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Finally, Evercore ISI decreased their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,037.48.

Costco Wholesale Company 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.