Ocean Capital Management LLC Has $17.50 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Ocean Capital Management LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,702 shares of the retailer’s stock after acquiring an additional 2,250 shares during the quarter. Costco Wholesale makes up about 11.2% of Ocean Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Ocean Capital Management LLC’s holdings in Costco Wholesale were worth $17,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Your Advocates Ltd. LLP bought a new stake in Costco Wholesale in the 1st quarter valued at $28,000. Fortis Advisors LLC boosted its stake in Costco Wholesale by 98.1% in the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Key Financial Inc bought a new stake in Costco Wholesale in the 1st quarter valued at $32,000. Cerebellum GP LLC bought a new stake in Costco Wholesale in the 2nd quarter valued at $32,000. Finally, Red Cedar Capital LLC boosted its stake in Costco Wholesale by 588.2% in the 2nd quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Institutional investors own 68.79% of the company’s stock.

In other news, insider Daniel M. Hines sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $309.31, for a total value of $1,546,550.00. Following the sale, the insider now directly owns 15,632 shares of the company’s stock, valued at approximately $4,835,133.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $326.60, for a total value of $653,200.00. Following the completion of the sale, the director now directly owns 27,747 shares in the company, valued at $9,062,170.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,380 shares of company stock worth $9,514,249. Insiders own 0.22% of the company’s stock.

Several research firms recently issued reports on COST. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research note on Friday, July 24th. Royal Bank of Canada boosted their price target on Costco Wholesale from $332.00 to $348.00 in a research note on Friday, May 29th. Robert W. Baird restated a “buy” rating and issued a $335.00 price target on shares of Costco Wholesale in a research note on Thursday, April 9th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Costco Wholesale in a report on Friday, July 24th. Finally, Nomura Securities reaffirmed a “hold” rating and issued a $310.00 price objective on shares of Costco Wholesale in a report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $326.46.

NASDAQ:COST traded up $0.71 during trading hours on Friday, hitting $325.53. 2,150,823 shares of the company’s stock traded hands, compared to its average volume of 1,971,796. The firm has a market cap of $143.73 billion, a P/E ratio of 38.94, a P/E/G ratio of 4.57 and a beta of 0.68. Costco Wholesale Co. has a 52 week low of $262.71 and a 52 week high of $331.49. The business’s fifty day simple moving average is $312.74 and its two-hundred day simple moving average is $306.86. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.59.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 28th. The retailer reported $1.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.03). The company had revenue of $36.45 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, analysts expect that Costco Wholesale Co. will post 8.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.70 dividend. The ex-dividend date is Thursday, July 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.86%. Costco Wholesale’s dividend payout ratio is currently 34.19%.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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