Abbrea Capital LLC Has $21.56 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Abbrea Capital LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,930 shares of the retailer’s stock after purchasing an additional 337 shares during the period. Costco Wholesale comprises approximately 3.1% of Abbrea Capital LLC’s investment portfolio, making the stock its 5th biggest position. Abbrea Capital LLC’s holdings in Costco Wholesale were worth $21,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. International Assets Investment Management LLC lifted its stake in shares of Costco Wholesale by 61,693.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after acquiring an additional 3,100,099 shares during the last quarter. C WorldWide Group Holding A S acquired a new stake in Costco Wholesale in the third quarter valued at $390,630,000. Alphinity Investment Management Pty Ltd acquired a new stake in Costco Wholesale in the fourth quarter valued at $297,915,000. Invesco Ltd. increased its holdings in Costco Wholesale by 18.3% in the third quarter. Invesco Ltd. now owns 2,088,673 shares of the retailer’s stock valued at $1,180,016,000 after purchasing an additional 323,346 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Costco Wholesale by 34.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,161,630 shares of the retailer’s stock valued at $656,274,000 after purchasing an additional 300,000 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now directly owns 12,395 shares in the company, valued at $8,967,534.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now directly owns 6,695 shares in the company, valued at approximately $4,785,786.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now owns 12,395 shares in the company, valued at $8,967,534.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,727 shares of company stock worth $2,682,948 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

COST stock traded up $7.32 during midday trading on Friday, hitting $729.18. The company’s stock had a trading volume of 1,512,681 shares, compared to its average volume of 2,055,581. The stock’s 50-day moving average price is $730.31 and its 200 day moving average price is $664.86. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The stock has a market cap of $323.39 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 4.82 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. The business had revenue of $58.44 billion for the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.30 earnings per share. On average, equities analysts forecast that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.64%. Costco Wholesale’s payout ratio is presently 26.68%.

Analysts Set New Price Targets

A number of analysts recently weighed in on COST shares. DA Davidson restated a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a report on Thursday, April 11th. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price for the company. in a report on Wednesday, April 3rd. Wells Fargo & Company lifted their target price on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Oppenheimer lifted their target price on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Finally, Roth Mkm lifted their target price on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $694.48.

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.