Hollencrest Capital Management Has $63.90 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Hollencrest Capital Management cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,171 shares of the retailer’s stock after selling 66 shares during the period. Costco Wholesale comprises 2.8% of Hollencrest Capital Management’s holdings, making the stock its 9th largest holding. Hollencrest Capital Management’s holdings in Costco Wholesale were worth $63,895,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the period. Vima LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $34,000. Finally, DSM Capital Partners LLC bought a new stake in shares of Costco Wholesale during the fourth quarter worth $36,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.9 %

COST stock opened at $900.74 on Friday. 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 Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The stock has a market capitalization of $399.33 billion, a P/E ratio of 55.81, a P/E/G ratio of 5.56 and a beta of 0.80. The firm has a 50-day simple moving average of $863.57 and a 200-day simple moving average of $809.87.

Costco Wholesale Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COST shares. Barclays lifted their price objective on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Tigress Financial upped their target price on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Activity at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly 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 can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. 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.