Hohimer Wealth Management LLC Sells 613 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Hohimer Wealth Management LLC cut its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,625 shares of the retailer's stock after selling 613 shares during the quarter. Costco Wholesale comprises 1.2% of Hohimer Wealth Management LLC's investment portfolio, making the stock its 15th biggest position. Hohimer Wealth Management LLC's holdings in Costco Wholesale were worth $6,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC lifted its stake in Costco Wholesale by 3.5% in the 1st quarter. Bogart Wealth LLC now owns 11,374 shares of the retailer's stock worth $10,757,000 after purchasing an additional 385 shares in the last quarter. Sigma Planning Corp lifted its stake in Costco Wholesale by 13.6% in the 1st quarter. Sigma Planning Corp now owns 19,442 shares of the retailer's stock worth $18,388,000 after purchasing an additional 2,331 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Costco Wholesale by 1.7% in the 1st quarter. Catalyst Financial Partners LLC now owns 2,180 shares of the retailer's stock worth $2,062,000 after purchasing an additional 36 shares in the last quarter. Signaturefd LLC raised its position in shares of Costco Wholesale by 0.3% during the 1st quarter. Signaturefd LLC now owns 12,339 shares of the retailer's stock valued at $11,670,000 after buying an additional 39 shares in the last quarter. Finally, Slow Capital Inc. raised its position in shares of Costco Wholesale by 27.2% during the 1st quarter. Slow Capital Inc. now owns 17,412 shares of the retailer's stock valued at $16,468,000 after buying an additional 3,723 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on COST. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Evercore ISI lowered 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. Truist Financial raised their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Morgan Stanley increased their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Activity

In related news, Director Susan L. Decker sold 547 shares of the 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 sale, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president directly owned 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,496,950 in the last quarter. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST opened at $970.33 on Monday. 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 $430.32 billion, a P/E ratio of 55.04, a P/E/G ratio of 6.03 and a beta of 0.97. The business's 50 day moving average price is $1,003.77 and its 200-day moving average price is $982.24. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $62.93 billion. During the same period in the previous year, the company posted $3.78 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

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.

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