Allspring Global Investments Holdings LLC Has $98.21 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Allspring Global Investments Holdings LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 9.8% in the 3rd quarter, Holdings Channel reports. The firm owned 110,781 shares of the retailer’s stock after buying an additional 9,933 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Costco Wholesale were worth $98,209,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the first quarter worth about $32,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in Costco Wholesale in the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. boosted its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Costco Wholesale during the second quarter valued at approximately $50,000. 68.48% of the stock is currently owned by institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated 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 directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares in the company, valued at approximately $20,560,344. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock valued at $9,974,973 in the last ninety days. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Bank of America boosted their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. TD Cowen boosted their price objective on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $890.07.

Costco Wholesale Stock Up 0.5 %

Shares of COST opened at $889.56 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $889.26 and a two-hundred day moving average price of $833.95. The stock has a market cap of $394.37 billion, a price-to-earnings ratio of 55.12, a P/E/G ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the company earned $4.86 EPS. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Costco Wholesale Co. will post 17.74 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

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.