Allied Investment Advisors LLC Purchases 40 Shares of Costco Wholesale Co. (NASDAQ:COST)

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Allied Investment Advisors LLC grew its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 525 shares of the retailer’s stock after purchasing an additional 40 shares during the quarter. Allied Investment Advisors LLC’s holdings in Costco Wholesale were worth $252,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after purchasing an additional 467,631 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Costco Wholesale by 0.8% in the first quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock valued at $18,047,310,000 after buying an additional 261,972 shares during the period. State Street Corp lifted its stake in shares of Costco Wholesale by 4.0% in the first quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock valued at $10,963,995,000 after buying an additional 738,447 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Costco Wholesale by 2.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after buying an additional 133,943 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Costco Wholesale by 3.7% in the first quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock valued at $2,430,810,000 after buying an additional 150,655 shares during the period. Institutional investors own 66.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on COST. Credit Suisse Group reduced their target price on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Truist Financial lifted their price objective on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, July 15th. Evercore ISI lifted their price objective on Costco Wholesale to $585.00 in a report on Tuesday, September 6th. Finally, The Goldman Sachs Group lifted their price objective on Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $575.36.

Insider Buying and Selling

In related news, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The disclosure for this sale can be found here. Insiders sold 2,800 shares of company stock worth $1,449,904 in the last quarter. Insiders own 0.22% of the company’s stock.

Costco Wholesale Stock Performance

COST stock opened at $487.17 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The company has a 50 day moving average price of $529.73 and a 200 day moving average price of $519.85. Costco Wholesale Co. has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The stock has a market capitalization of $215.80 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.

Costco Wholesale Profile

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Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

See Also

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

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