abrdn plc Raises Position in Costco Wholesale Co. (NASDAQ:COST)

abrdn plc increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 30.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,164,194 shares of the retailer’s stock after buying an additional 273,114 shares during the quarter. Costco Wholesale makes up about 1.0% of abrdn plc’s portfolio, making the stock its 14th largest position. abrdn plc’s holdings in Costco Wholesale were worth $460,707,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of COST. Baillie Gifford & Co. bought a new stake in Costco Wholesale in the second quarter valued at approximately $31,000. KB Financial Partners LLC purchased a new position in shares of Costco Wholesale in the first quarter valued at about $35,000. Sage Financial Management Group Inc. bought a new position in shares of Costco Wholesale during the first quarter valued at about $38,000. West Financial Advisors LLC boosted its holdings in shares of Costco Wholesale by 100.0% during the second quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after purchasing an additional 50 shares during the period. Finally, PNC Managed Account Solutions Inc. bought a new stake in shares of Costco Wholesale in the second quarter worth about $42,000. 66.96% of the stock is currently owned by institutional investors and hedge funds.

COST stock traded up $2.44 during midday trading on Wednesday, hitting $460.85. The company’s stock had a trading volume of 36,004 shares, compared to its average volume of 2,265,726. The firm has a market capitalization of $203.73 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 4.35 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. Costco Wholesale Co. has a 12 month low of $307.00 and a 12 month high of $469.77. The company has a 50 day moving average of $438.72 and a two-hundred day moving average of $392.44.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were given a dividend of $0.79 per share. The ex-dividend date was Thursday, July 29th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.69%. Costco Wholesale’s dividend payout ratio is 35.71%.

In related news, VP Joseph P. Portera sold 3,287 shares of the firm’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $445.50, for a total value of $1,464,358.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy L. Rose sold 4,000 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $396.14, for a total transaction of $1,584,560.00. Following the completion of the sale, the vice president now directly owns 26,625 shares in the company, valued at approximately $10,547,227.50. The disclosure for this sale can be found here. Insiders sold 11,287 shares of company stock worth $4,686,519 over the last ninety days. Insiders own 0.22% of the company’s stock.

COST has been the subject of several research analyst reports. DA Davidson increased their price objective on Costco Wholesale from $350.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, August 5th. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, August 5th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, September 9th. Raymond James increased their price target on shares of Costco Wholesale from $415.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Finally, Telsey Advisory Group lifted their price objective on Costco Wholesale from $465.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $441.32.

Costco Wholesale Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.

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

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