Aberdeen Group plc Raises Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Aberdeen Group plc has increased its stake in Costco Wholesale Corporation by 68.0%, now owning 381,354 shares worth approximately $357.35 million.
• Costco recently reported quarterly earnings of $4.28 per share, exceeding analysts' expectations, and announced a quarterly dividend of $1.30 per share, payable on August 15th.
• Institutional investors own about 68.48% of Costco's stock, reflecting strong interest from large investment firms.

Aberdeen Group plc boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 68.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 381,354 shares of the retailer's stock after acquiring an additional 154,373 shares during the quarter. Costco Wholesale accounts for 0.7% of Aberdeen Group plc's portfolio, making the stock its 19th biggest holding. Aberdeen Group plc owned about 0.09% of Costco Wholesale worth $357,352,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. GAMMA Investing LLC raised its position in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares in the last quarter. Northern Trust Corp raised its position in Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after purchasing an additional 587,303 shares in the last quarter. Capital World Investors raised its position in Costco Wholesale by 0.5% during the 4th quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock valued at $3,656,828,000 after purchasing an additional 18,897 shares in the last quarter. Finally, Invesco Ltd. raised its position in Costco Wholesale by 5.2% during the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer's stock valued at $3,695,796,000 after purchasing an additional 191,985 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 in the last 90 days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Down 0.3%

NASDAQ:COST traded down $3.35 during mid-day trading on Friday, hitting $972.04. 1,637,627 shares of the company's stock traded hands, compared to its average volume of 2,147,194. The company has a fifty day moving average of $972.25 and a 200 day moving average of $986.08. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a market capitalization of $431.08 billion, a P/E ratio of 55.14, a P/E/G ratio of 6.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.78 EPS. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on COST shares. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Evercore ISI reduced their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

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.