Allspring Global Investments Increases Stake in Costco Wholesale

Allspring Global Investments Holdings LLC has increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 9.8% during the third quarter, according to reports from Holdings Channel. The company now owns 110,781 shares of the retailer’s stock after adding 9,933 additional shares in this period. The total value of Allspring Global Investments Holdings LLC's investment in Costco Wholesale stands at $98,209,000 based on the latest filing with the SEC.

Additionally, several other institutional investors have made recent transactions involving Costco shares. For instance, Redmont Wealth Advisors LLC entered a new position in the first quarter, investing approximately $32,000. Furthermore, Financial Connections Group Inc. boosted its investment significantly in the second quarter, increasing its stake by 557.1%, resulting in ownership of 46 shares valued at $39,000 after acquiring 39 shares recently.

Bank & Trust Co also made a new investment in Costco Wholesale during the second quarter, valued around $48,000. Meanwhile, Ruedi Wealth Management Inc. increased its position by 73.5%, acquiring an additional 25 shares and raising its ownership to 59 shares worth $50,000. Finally, Summit Securities Group LLC also acquired a new stake valued at roughly $50,000 during the same period. Currently, institutional investors hold about 68.48% of Costco's stock.

Recent Insider Transactions at Costco Wholesale

In recent insider activity, executive vice president Richard A. Galanti sold 500 shares of Costco stock on August 13. The sale was completed at an average price of $863.88 per share, totaling $431,940. After this transaction, Galanti's remaining shares amount to 23,800, valued around $20,560,344. This represented no change in their ownership percentage of the stock. The sale details were disclosed in a filing with the Securities and Exchange Commission.

Additionally, Director Susan L. Decker sold 620 shares on August 15, with the shares priced at $876.50, bringing the total value of the transaction to $543,430. After this sale, Decker holds 11,775 shares valued at approximately $10,320,787.50, also reflecting no significant ownership change. Over the last ninety days, insiders have sold 11,224 shares totaling around $9,974,973 in value, while insiders collectively own about 0.18% of the company’s stock.

Analysts' Opinions on Costco Wholesale

Many analysts have recently updated their forecasts for Costco stock. Morgan Stanley increased its price target from $855.00 to $950.00, rating the stock as “overweight” in September. Similarly, Bank of America raised its target from $874.00 to $962.00, maintaining a “buy” rating. Deutsche Bank also adjusted its price target, increasing it slightly from $925.00 to $927.00, affirming a “buy” rating.

TD Cowen set a new price target for Costco at $975.00, up from $925.00, and remains bullish with a “buy” rating. In a recent update, BMO Capital Markets reaffirmed an “outperform” rating with an adjusted target price of $980.00. With ten analysts rating the stock as a hold and eighteen issuing buy ratings, the stock currently has an average rating of “Moderate Buy” and an average target price of $890.07 according to MarketBeat.com.

Costco Wholesale Stock Performance

Costco shares opened at $889.56 on the most recent trading session. The company holds a quick ratio of 0.44 and a current ratio of 0.97, alongside a low debt-to-equity ratio of 0.25. The stock's 50-day moving average is $889.26, with a 200-day moving average of $833.95, and it sports a market capitalization of $394.37 billion. The price-to-earnings (P/E) ratio is 55.12, with a P/E/G ratio of 5.48 and a beta value of 0.80. Over the past 12 months, Costco has traded between a low of $540.23 and a high of $923.83.

The company recently reported earnings for the quarter ending September 26. Costco posted earnings per share (EPS) of $5.15, exceeding the analysts' consensus estimate of $5.05 by $0.10. The retailer achieved a return on equity of 31.05% and a net margin of 2.90%. Total revenue for this quarter stood at $79.70 billion, slightly below the expected $79.91 billion. Year-over-year, revenue increased by 1.0%, and analysts forecast that Costco will report an EPS of 17.74 for the current fiscal year.

Costco Wholesale Dividend Information

A quarterly dividend has also been recently declared by Costco, planned for distribution on November 15. Shareholders of record on November 1 will receive a dividend of $1.16 per share, equating to an annualized dividend of $4.64 and a yield of 0.52%. The stock’s ex-dividend date is set for November 1, and the current dividend payout ratio (DPR) stands at 28.75%.

About Costco Wholesale

Costco Wholesale Corporation operates membership warehouses across various regions, including the United States, Canada, Mexico, Japan, and several European countries. It provides a diverse range of merchandise, featuring both branded and private-label products.

investment, Costco, stocks