Precedent Wealth Partners LLC Purchases 34 Shares of Costco Wholesale Co. (NASDAQ:COST)

Precedent Wealth Partners LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 434 shares of the retailer’s stock after acquiring an additional 34 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Costco Wholesale were worth $398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fermata Advisors LLC lifted its holdings in Costco Wholesale by 0.6% during the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after buying an additional 11 shares during the period. Sculati Wealth Management LLC increased its position in shares of Costco Wholesale by 0.3% in the 3rd quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after acquiring an additional 11 shares during the period. Sivia Capital Partners LLC increased its position in shares of Costco Wholesale by 0.3% in the 4th quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock valued at $3,398,000 after acquiring an additional 11 shares during the period. Gill Capital Partners LLC increased its position in shares of Costco Wholesale by 0.9% in the 4th quarter. Gill Capital Partners LLC now owns 1,270 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 11 shares during the period. Finally, Scott Capital Advisors LLC grew its position in Costco Wholesale by 0.8% during the 4th quarter. Scott Capital Advisors LLC now owns 1,348 shares of the retailer’s stock worth $1,247,000 after purchasing an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $939.68 on Monday. The stock has a market cap of $417.12 billion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 5.63 and a beta of 0.84. The company has a fifty day simple moving average of $951.57 and a 200-day simple moving average of $903.84. Costco Wholesale Co. has a 12-month low of $675.96 and a 12-month high of $1,008.25. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.16 dividend. 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 0.49%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Analysts Set New Price Targets

Several brokerages have weighed in on COST. Citigroup increased their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Thursday, January 9th. 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 report on Friday, December 13th. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Finally, Evercore ISI raised their price target on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

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.