Farmers & Merchants Investments Inc. cut its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,936 shares of the retailer's stock after selling 276 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Costco Wholesale were worth $15,518,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new position in shares of Costco Wholesale during the third quarter valued at $42,896,000. Fiduciary Financial Group LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $249,000. Brown Miller Wealth Management LLC raised its holdings in shares of Costco Wholesale by 5.1% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 887 shares of the retailer's stock valued at $786,000 after purchasing an additional 43 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of Costco Wholesale by 7.2% in the 3rd quarter. Annex Advisory Services LLC now owns 26,165 shares of the retailer's stock worth $23,196,000 after purchasing an additional 1,751 shares during the period. Finally, Retirement Planning Group LLC boosted its stake in shares of Costco Wholesale by 0.4% during the third quarter. Retirement Planning Group LLC now owns 33,411 shares of the retailer's stock valued at $29,620,000 after purchasing an additional 120 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on COST. Oppenheimer reaffirmed an "outperform" rating and set a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Morgan Stanley upped their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Evercore ISI boosted their price target on Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. TD Cowen increased their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Raymond James lifted their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,021.93.
Check Out Our Latest Research Report on Costco Wholesale
Costco Wholesale Stock Performance
COST stock traded up $11.74 during midday trading on Thursday, reaching $1,076.86. The company had a trading volume of 1,620,480 shares, compared to its average volume of 1,936,102. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $966.02 and a 200 day moving average price of $919.48. The firm has a market capitalization of $478.02 billion, a PE ratio of 63.23, a P/E/G ratio of 6.26 and a beta of 0.84. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24.
Costco Wholesale Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.43%. Costco Wholesale's payout ratio is currently 27.25%.
Costco Wholesale Company Profile
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Free Report)
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.
Further Reading
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