Golden State Wealth Management LLC Buys New Position in Costco Wholesale Co. (NASDAQ:COST)

Golden State Wealth Management LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, Holdings Channel.com reports. The fund purchased 4,068 shares of the retailer’s stock, valued at approximately $3,728,000.

Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the 3rd quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter worth about $33,000. FSC Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth approximately $41,000. Retirement Wealth Solutions LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $55,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,043.81 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm has a market cap of $463.35 billion, a price-to-earnings ratio of 61.29, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84. The firm’s fifty day moving average price is $959.83 and its 200 day moving average price is $912.64. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,063.00.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent analyst reports. Roth Mkm increased their price objective on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. DA Davidson increased their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup lifted 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. Raymond James increased their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group boosted 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. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

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.