Consolidated Planning Corp Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Consolidated Planning Corp boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 17.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,768 shares of the retailer’s stock after buying an additional 1,280 shares during the quarter. Costco Wholesale accounts for about 1.1% of Consolidated Planning Corp’s holdings, making the stock its 27th largest position. Consolidated Planning Corp’s holdings in Costco Wholesale were worth $8,034,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of COST. AMF Tjanstepension AB bought a new position in shares of Costco Wholesale during the 3rd quarter valued at approximately $42,896,000. Wedge Capital Management L L P NC purchased a new position in Costco Wholesale during the third quarter valued at approximately $213,000. Creative Planning boosted its position in shares of Costco Wholesale by 5.5% in the third quarter. Creative Planning now owns 224,169 shares of the retailer’s stock worth $194,245,000 after purchasing an additional 11,678 shares during the period. Swedbank AB increased its stake in shares of Costco Wholesale by 1.5% in the third quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after purchasing an additional 6,495 shares in the last quarter. Finally, Indiana Trust & Investment Management Co raised its position in shares of Costco Wholesale by 4.3% during the 3rd quarter. Indiana Trust & Investment Management Co now owns 7,728 shares of the retailer’s stock valued at $6,851,000 after purchasing an additional 316 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Sanford C. Bernstein started coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. Loop Capital lifted their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial boosted their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Finally, Tigress Financial reissued a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Up 1.1 %

Shares of NASDAQ:COST opened at $1,076.86 on Friday. The firm has a market capitalization of $478.02 billion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84. The business has a 50 day simple moving average of $966.02 and a two-hundred day simple moving average of $919.48. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s payout ratio is currently 27.25%.

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.