Grassi Investment Management Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Grassi Investment Management boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,155 shares of the retailer’s stock after buying an additional 315 shares during the period. Grassi Investment Management’s holdings in Costco Wholesale were worth $4,723,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $58,000. Fairway Wealth LLC increased its stake in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in Costco Wholesale by 329.4% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after buying an additional 56 shares in the last quarter. Finally, VitalStone Financial LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $71,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on COST shares. Barclays boosted their target price on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Truist Financial boosted their target price on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. TD Cowen boosted their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup boosted their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, DA Davidson boosted their target price on Costco Wholesale from $880.00 to $900.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Stock Down 1.3 %

Costco Wholesale stock opened at $924.70 on Tuesday. Costco Wholesale Co. has a twelve month low of $675.96 and a twelve month high of $1,008.25. The stock’s fifty day simple moving average is $948.69 and its 200-day simple moving average is $899.73. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $410.47 billion, a P/E ratio of 54.30, a P/E/G ratio of 6.02 and a beta of 0.84.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.