Carlton Hofferkamp & Jenks Wealth Management LLC Cuts Position in Costco Wholesale Corporation $COST

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,055 shares of the retailer’s stock after selling 101 shares during the quarter. Costco Wholesale comprises approximately 2.4% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Costco Wholesale were worth $6,544,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sage Mountain Advisors LLC lifted its holdings in Costco Wholesale by 17.2% in the 2nd quarter. Sage Mountain Advisors LLC now owns 3,182 shares of the retailer’s stock valued at $3,150,000 after acquiring an additional 466 shares during the last quarter. Lee Danner & Bass Inc. raised its holdings in Costco Wholesale by 19.2% during the 2nd quarter. Lee Danner & Bass Inc. now owns 2,384 shares of the retailer’s stock worth $2,360,000 after buying an additional 384 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Costco Wholesale by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,096,683 shares of the retailer’s stock worth $1,085,650,000 after purchasing an additional 22,096 shares in the last quarter. MN Wealth Advisors LLC raised its stake in Costco Wholesale by 10.4% during the 2nd quarter. MN Wealth Advisors LLC now owns 700 shares of the retailer’s stock valued at $694,000 after purchasing an additional 66 shares during the period. Finally, West Michigan Advisors LLC lifted its holdings in shares of Costco Wholesale by 6.5% in the second quarter. West Michigan Advisors LLC now owns 359 shares of the retailer’s stock valued at $355,000 after purchasing an additional 22 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Down 1.1%

COST opened at $932.14 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $413.11 billion, a PE ratio of 51.19, a PEG ratio of 5.72 and a beta of 0.98. The firm has a 50-day moving average price of $945.23 and a two-hundred day moving average price of $971.67. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio is 28.56%.

Insiders Place Their Bets

In related news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,920 shares of company stock worth $7,373,175. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Truist Financial dropped their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. BTIG Research initiated coverage on shares of Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price objective for the company. Finally, Sanford C. Bernstein raised their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,068.15.

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.