Nelson Capital Management LLC Has $6.54 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Nelson Capital Management LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,146 shares of the retailer’s stock after selling 230 shares during the period. Costco Wholesale makes up approximately 1.7% of Nelson Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Nelson Capital Management LLC’s holdings in Costco Wholesale were worth $6,539,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Inlet Private Wealth LLC grew its stake in shares of Costco Wholesale by 0.3% during the second quarter. Inlet Private Wealth LLC now owns 5,535 shares of the retailer’s stock worth $2,980,000 after acquiring an additional 18 shares during the last quarter. ETF Store Inc. grew its position in Costco Wholesale by 3.6% during the 2nd quarter. ETF Store Inc. now owns 522 shares of the retailer’s stock worth $289,000 after purchasing an additional 18 shares during the last quarter. TrinityPoint Wealth LLC increased its stake in Costco Wholesale by 0.9% during the 2nd quarter. TrinityPoint Wealth LLC now owns 2,134 shares of the retailer’s stock valued at $1,149,000 after purchasing an additional 18 shares in the last quarter. Veery Capital LLC raised its holdings in shares of Costco Wholesale by 2.4% in the second quarter. Veery Capital LLC now owns 812 shares of the retailer’s stock worth $437,000 after buying an additional 19 shares during the last quarter. Finally, Towerpoint Wealth LLC lifted its stake in shares of Costco Wholesale by 2.8% during the second quarter. Towerpoint Wealth LLC now owns 696 shares of the retailer’s stock worth $375,000 after buying an additional 19 shares during the period. 66.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COST has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and issued a $619.00 target price on shares of Costco Wholesale in a research note on Thursday, October 5th. Loop Capital upped their target price on Costco Wholesale from $615.00 to $630.00 in a research report on Thursday, October 5th. Telsey Advisory Group reissued an “outperform” rating and set a $600.00 price target on shares of Costco Wholesale in a research report on Monday, October 30th. BMO Capital Markets upped their price objective on shares of Costco Wholesale from $600.00 to $612.00 and gave the company an “outperform” rating in a report on Wednesday, September 27th. Finally, HSBC assumed coverage on shares of Costco Wholesale in a report on Friday, September 22nd. They set a “hold” rating and a $600.00 target price for the company. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $586.43.

Costco Wholesale Price Performance

NASDAQ COST traded down $1.43 during mid-day trading on Friday, hitting $577.15. The stock had a trading volume of 1,774,272 shares, compared to its average volume of 1,823,492. The firm’s 50 day moving average is $564.00 and its 200 day moving average is $542.66. Costco Wholesale Co. has a twelve month low of $447.90 and a twelve month high of $599.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 0.57. The stock has a market capitalization of $255.53 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 4.31 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Tuesday, September 26th. The retailer reported $4.86 EPS for the quarter, beating the consensus estimate of $4.79 by $0.07. Costco Wholesale had a return on equity of 28.10% and a net margin of 2.60%. The firm had revenue of $78.94 billion during the quarter, compared to the consensus estimate of $77.72 billion. During the same period in the prior year, the company earned $4.20 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Costco Wholesale Co. will post 15.71 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, November 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.81%.

Insiders Place Their Bets

In other Costco Wholesale news, VP Patrick J. Callans sold 2,500 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $553.76, for a total value of $1,384,400.00. Following the completion of the sale, the vice president now directly owns 67,934 shares of the company’s stock, valued at approximately $37,619,131.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Patrick J. Callans sold 2,500 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $553.76, for a total transaction of $1,384,400.00. Following the completion of the transaction, the vice president now directly owns 67,934 shares in the company, valued at approximately $37,619,131.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 4,500 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $557.75, for a total value of $2,509,875.00. Following the transaction, the executive vice president now owns 10,785 shares of the company’s stock, valued at $6,015,333.75. The disclosure for this sale can be found here. Insiders sold 19,265 shares of company stock valued at $10,797,118 in the last three months. 0.22% 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.