Abound Wealth Management Raises Position in Costco Wholesale Co. (NASDAQ:COST)

Abound Wealth Management lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 743 shares of the retailer’s stock after purchasing an additional 25 shares during the period. Abound Wealth Management’s holdings in Costco Wholesale were worth $631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Fairfield Financial Advisors LTD acquired a new position in Costco Wholesale in the second quarter valued at approximately $4,226,000. Rathbones Group PLC boosted its holdings in shares of Costco Wholesale by 0.8% in the 2nd quarter. Rathbones Group PLC now owns 305,990 shares of the retailer’s stock valued at $260,096,000 after buying an additional 2,463 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Costco Wholesale by 4.3% in the 2nd quarter. Plato Investment Management Ltd now owns 13,117 shares of the retailer’s stock valued at $11,149,000 after buying an additional 536 shares during the last quarter. Poehling Capital Management INC. raised its stake in Costco Wholesale by 21.9% during the 2nd quarter. Poehling Capital Management INC. now owns 1,056 shares of the retailer’s stock worth $898,000 after acquiring an additional 190 shares in the last quarter. Finally, Hanson & Doremus Investment Management lifted its position in Costco Wholesale by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 10,823 shares of the retailer’s stock valued at $9,199,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.1 %

Shares of NASDAQ COST opened at $916.00 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $861.57 and a 200 day moving average price of $806.45. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The stock has a market capitalization of $406.09 billion, a price-to-earnings ratio of 56.75, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 in the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson reiterated a “neutral” rating and set a $780.00 target price on shares of Costco Wholesale in a research report on Friday, September 6th. Evercore ISI lifted their price target on Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Tigress Financial increased their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. BMO Capital Markets lifted their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $844.52.

Costco Wholesale Profile

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.