Tritonpoint Wealth LLC Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Tritonpoint Wealth LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 6,930 shares of the retailer’s stock after selling 302 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Costco Wholesale were worth $6,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Costco Wholesale by 36.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 54,244 shares of the retailer’s stock valued at $49,702,000 after purchasing an additional 14,539 shares during the last quarter. Capital Insight Partners LLC lifted its holdings in Costco Wholesale by 19.2% during the 4th quarter. Capital Insight Partners LLC now owns 1,456 shares of the retailer’s stock worth $1,334,000 after buying an additional 235 shares during the last quarter. Abundance Wealth Counselors boosted its position in shares of Costco Wholesale by 6.0% during the 4th quarter. Abundance Wealth Counselors now owns 1,681 shares of the retailer’s stock worth $1,540,000 after acquiring an additional 95 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Costco Wholesale by 11.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,335 shares of the retailer’s stock worth $2,139,000 after acquiring an additional 232 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC increased its stake in Costco Wholesale by 9.4% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 2,449 shares of the retailer’s stock valued at $2,244,000 after purchasing an additional 210 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COST. Truist Financial raised their price objective on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Evercore ISI raised their price target on Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Citigroup boosted their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Price Performance

COST stock opened at $979.88 on Monday. The stock has a 50-day moving average price of $954.51 and a two-hundred day moving average price of $907.85. The company has a market cap of $434.97 billion, a PE ratio of 57.54, a price-to-earnings-growth ratio of 5.75 and a beta of 0.84. 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 Co. has a 12-month low of $691.50 and a 12-month high of $1,008.25.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) 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.