Hollencrest Capital Management Has $64.95 Million Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Hollencrest Capital Management reduced its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,673 shares of the retailer's stock after selling 4,218 shares during the quarter. Costco Wholesale comprises about 2.8% of Hollencrest Capital Management's investment portfolio, making the stock its 8th biggest position. Hollencrest Capital Management's holdings in Costco Wholesale were worth $64,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Investment Research LLC increased its stake in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the last quarter. Peninsula Wealth LLC increased its position in Costco Wholesale by 1.2% during the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after buying an additional 10 shares during the last quarter. Bosun Asset Management LLC raised its stake in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after buying an additional 10 shares during the period. NFP Retirement Inc. lifted its position in shares of Costco Wholesale by 1.1% in the fourth quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after buying an additional 11 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $2.96 during midday trading on Friday, reaching $950.95. The company's stock had a trading volume of 2,110,863 shares, compared to its average volume of 2,067,122. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock has a market cap of $421.73 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 5.93 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The business has a 50-day moving average price of $1,000.06 and a 200-day moving average price of $982.43.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.78 EPS. On average, sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is 29.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on COST shares. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Evercore ISI dropped their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Loop Capital reduced their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Insider Transactions at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the transaction, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is currently owned by company 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.