Palumbo Wealth Management LLC Has $5.51 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Palumbo Wealth Management LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,018 shares of the retailer's stock after acquiring an additional 350 shares during the period. Costco Wholesale accounts for 2.1% of Palumbo Wealth Management LLC's portfolio, making the stock its 11th largest position. Palumbo Wealth Management LLC's holdings in Costco Wholesale were worth $5,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COST. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale in the third quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $33,000. Collier Financial acquired a new stake in Costco Wholesale in the fourth quarter worth $35,000. Barrett & Company Inc. grew its holdings in shares of Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after buying an additional 16 shares during the period. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $41,000. Institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COST shares. Citigroup increased their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Truist Financial increased their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a "hold" rating in a research report on Friday, December 13th. DA Davidson upped their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. Evercore ISI lifted their price target on Costco Wholesale from $1,040.00 to $1,070.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird increased their price objective on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an "outperform" rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,021.93.

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Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $28.32 during midday trading on Thursday, hitting $1,034.22. 1,996,019 shares of the company's stock were exchanged, compared to its average volume of 1,908,977. 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 firm has a market capitalization of $459.09 billion, a PE ratio of 60.73, a price-to-earnings-growth ratio of 6.28 and a beta of 0.84. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,078.23. The company's 50 day moving average price is $973.78 and its 200 day moving average price is $928.24.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.45%. Costco Wholesale's dividend payout ratio (DPR) is 27.25%.

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.