Nelson Capital Management LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Nelson Capital Management LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,708 shares of the retailer’s stock after selling 136 shares during the period. Costco Wholesale makes up approximately 1.6% of Nelson Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Nelson Capital Management LLC’s holdings in Costco Wholesale were worth $9,101,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COST. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter worth approximately $32,000. Vima LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $34,000. DSM Capital Partners LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. boosted its position in 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 purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $900.40 on Thursday. The firm has a market capitalization of $399.18 billion, a PE ratio of 55.79, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $918.93. The stock’s 50-day simple moving average is $859.92 and its 200-day simple moving average is $803.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Announces Dividend

The company also recently declared 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 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

Several research firms have commented on COST. BMO Capital Markets upped their price objective on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, August 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 note on Thursday, July 11th. Loop Capital raised their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird increased their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, Barclays raised their target price on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

Insider Buying and Selling at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 directly owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’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 sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is currently 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.