Hohimer Wealth Management LLC Has $5.65 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Hohimer Wealth Management LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,644 shares of the retailer’s stock after purchasing an additional 121 shares during the quarter. Costco Wholesale comprises approximately 1.3% of Hohimer Wealth Management LLC’s holdings, making the stock its 11th largest position. Hohimer Wealth Management LLC’s holdings in Costco Wholesale were worth $5,647,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the 4th quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $34,000. DSM Capital Partners LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock worth $4,252,856 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock traded down $15.73 during trading hours on Thursday, reaching $874.29. 540,707 shares of the company were exchanged, compared to its average volume of 1,950,048. Costco Wholesale Co. has a fifty-two week low of $540.18 and a fifty-two week high of $918.93. The stock’s fifty day moving average is $856.21 and its two-hundred day moving average is $798.00. The company has a market cap of $387.60 billion, a price-to-earnings ratio of 54.38, a P/E/G ratio of 5.98 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analysts Set New Price Targets

A number of brokerages have commented on COST. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Barclays raised their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. TD Cowen raised their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company raised their target price on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, Tigress Financial raised their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently 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.