Southern Style Financial Inc. Makes New $4.30 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

Southern Style Financial Inc. acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,679 shares of the retailer's stock, valued at approximately $4,299,000. Costco Wholesale comprises approximately 3.5% of Southern Style Financial Inc.'s holdings, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in Costco Wholesale by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer's stock worth $2,489,574,000 after purchasing an additional 32,074 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer's stock valued at $2,143,000 after acquiring an additional 932 shares in the last quarter. Hudson Value Partners LLC increased its position in shares of Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer's stock valued at $7,133,000 after acquiring an additional 568 shares during the last quarter. Nwam LLC bought a new stake in Costco Wholesale during the third quarter worth $20,056,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Costco Wholesale in the fourth quarter worth $8,430,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. TD Cowen lifted their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $1,016.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, Truist Financial upped their price objective on Costco Wholesale from $909.00 to $935.00 and gave the company a "hold" rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and an average target price of $1,013.59.

Costco Wholesale Price Performance

NASDAQ:COST traded up $14.99 during trading hours on Thursday, hitting $979.01. 1,785,690 shares of the company's stock traded hands, compared to its average volume of 1,923,543. The business's fifty day simple moving average is $953.78 and its two-hundred day simple moving average is $906.03. Costco Wholesale Co. has a 52 week low of $691.50 and a 52 week high of $1,008.25. The firm has a market cap of $434.58 billion, a P/E ratio of 57.49, a P/E/G ratio of 5.63 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

The business also recently announced 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 is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.47%. Costco Wholesale's payout ratio is presently 27.25%.

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.