Advisors Capital Management LLC Has $37.78 Million Holdings in Costco Wholesale Corporation $COST

Key Points

• Advisors Capital Management LLC reduced its holdings in Costco Wholesale by 0.7% in the first quarter, now owning 39,946 shares valued at approximately $37.78 million.
• Institutional investors collectively own 68.48% of Costco's stock, reflecting significant ongoing interest in the company from various investment firms.
• Costco announced a quarterly dividend of $1.30 per share, representing an annualized yield of 0.5% and a dividend payout ratio of 29.50%.

Advisors Capital Management LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,946 shares of the retailer's stock after selling 297 shares during the quarter. Advisors Capital Management LLC's holdings in Costco Wholesale were worth $37,781,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Corps Capital Advisors LLC lifted its stake in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd raised its position in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares during the period. Rooted Wealth Advisors Inc. raised its position in shares of Costco Wholesale by 2.6% during the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after purchasing an additional 11 shares during the period. Bank & Trust Co raised its position in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC raised its position in shares of Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock worth $819,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,147 shares of company stock valued at $5,031,130 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COST has been the topic of a number of research reports. Loop Capital lowered their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Evercore ISI lowered 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. Finally, Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Trading Down 2.3%

Shares of Costco Wholesale stock opened at $956.29 on Thursday. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a market cap of $424.10 billion, a PE ratio of 54.24, a P/E/G ratio of 5.51 and a beta of 0.97. The stock has a fifty day moving average price of $961.21 and a 200-day moving average price of $976.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

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.

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