Hoylecohen LLC Trims Position in Costco Wholesale Co. (NASDAQ:COST)

Hoylecohen LLC cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,828 shares of the retailer’s stock after selling 571 shares during the period. Costco Wholesale makes up about 1.9% of Hoylecohen LLC’s portfolio, making the stock its 10th biggest holding. Hoylecohen LLC’s holdings in Costco Wholesale were worth $25,354,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COST. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. bought a new stake in Costco Wholesale in the fourth quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale during the first quarter worth $32,000. Vima LLC bought a new position in Costco Wholesale during the fourth quarter valued at $34,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,970 shares of company stock worth $4,249,526. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Down 0.8 %

Shares of COST traded down $6.76 during midday trading on Friday, hitting $870.59. 1,516,332 shares of the company’s stock traded hands, compared to its average volume of 1,987,382. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $385.96 billion, a price-to-earnings ratio of 53.94, a price-to-earnings-growth ratio of 5.73 and a beta of 0.78. Costco Wholesale Co. has a 1 year low of $530.56 and a 1 year high of $896.67. The firm’s fifty day moving average is $848.44 and its 200-day moving average is $782.54.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. During the same period last year, the business posted $3.43 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on COST shares. Bank of America lifted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus upped their target price on Costco Wholesale from $900.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays raised their price target on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $925.00 price objective on shares of Costco Wholesale in a research report on Monday, August 5th. Finally, Robert W. Baird lifted their target price on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $824.50.

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.