Absher Wealth Management LLC Lowers Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Absher Wealth Management LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,708 shares of the retailer's stock after selling 11,543 shares during the quarter. Costco Wholesale comprises approximately 3.1% of Absher Wealth Management LLC's portfolio, making the stock its 20th biggest position. Absher Wealth Management LLC's holdings in Costco Wholesale were worth $21,851,000 at the end of the most recent reporting period.

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Several other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its holdings in Costco Wholesale by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,121 shares of the retailer's stock valued at $32,402,000 after purchasing an additional 222 shares in the last quarter. Oxinas Partners Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $237,000. Octavia Wealth Advisors LLC raised its position in Costco Wholesale by 8.5% in the second quarter. Octavia Wealth Advisors LLC now owns 1,653 shares of the retailer's stock worth $1,405,000 after acquiring an additional 129 shares in the last quarter. Next Level Private LLC acquired a new stake in Costco Wholesale in the second quarter valued at $211,000. Finally, Magnus Financial Group LLC boosted its position in shares of Costco Wholesale by 3.7% during the 2nd quarter. Magnus Financial Group LLC now owns 1,097 shares of the retailer's stock worth $932,000 after purchasing an additional 39 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on COST shares. TD Cowen raised their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a "buy" rating in a research note on Friday, July 12th. Robert W. Baird boosted their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, July 11th. Argus raised their price objective on Costco Wholesale from $805.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, May 28th. Barclays boosted their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 11th. Finally, Loop Capital raised their price target on Costco Wholesale from $940.00 to $970.00 and gave the company a "buy" rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average target price of $824.50.

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Get Our Latest Report on COST

Costco Wholesale Trading Down 1.5 %

NASDAQ COST opened at $878.57 on Wednesday. The company has a market cap of $389.50 billion, a P/E ratio of 54.43, a P/E/G ratio of 5.98 and a beta of 0.78. Costco Wholesale Co. has a 12 month low of $540.18 and a 12 month high of $918.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The company has a 50-day moving average of $855.55 and a 200-day moving average of $797.36.

Costco Wholesale Announces Dividend

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The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. 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 at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of 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 legal filing with the SEC, which is available through this link. Also, insider Daniel M. Hines sold 1,500 shares of the firm's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $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. 0.18% of the stock is owned by insiders.

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.

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