Convergence Financial LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Convergence Financial LLC lowered its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,593 shares of the retailer’s stock after selling 31 shares during the period. Convergence Financial LLC’s holdings in Costco Wholesale were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC boosted its holdings in Costco Wholesale by 100,422.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock valued at $729,476,000 after purchasing an additional 795,345 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Costco Wholesale by 55.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock worth $979,284,000 after acquiring an additional 382,367 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Costco Wholesale by 75,894.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock valued at $300,473,000 after acquiring an additional 338,489 shares during the period. FMR LLC grew its stake in Costco Wholesale by 3.6% in the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after acquiring an additional 324,973 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of Costco Wholesale in the fourth quarter worth $157,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Robert W. Baird boosted their price objective on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. BMO Capital Markets upped their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Raymond James raised their price target 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 upped their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Performance

Shares of COST opened at $1,031.97 on Thursday. The firm has a market cap of $458.09 billion, a PE ratio of 60.60, a PEG ratio of 6.15 and a beta of 0.84. 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 stock’s fifty day moving average price is $979.28 and its two-hundred day moving average price is $935.71. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.23.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Costco Wholesale Company 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.