Costco Wholesale Co. (NASDAQ:COST) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,951 shares of the retailer’s stock after purchasing an additional 154 shares during the period. Cornerstone Wealth Group LLC’s holdings in Costco Wholesale were worth $5,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COST. Geode Capital Management LLC grew its position in Costco Wholesale by 1.7% during the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after buying an additional 162,191 shares during the period. FMR LLC boosted its stake in shares of Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares in the last quarter. International Assets Investment Management LLC increased its stake in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Jennison Associates LLC raised its holdings in Costco Wholesale by 3.8% during the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after purchasing an additional 125,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Costco Wholesale by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after purchasing an additional 70,561 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. DA Davidson raised their price target on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Citigroup raised their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Truist Financial upped their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. Oppenheimer reissued an “outperform” rating and set a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein began coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price on the stock. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Stock Performance

NASDAQ COST opened at $965.25 on Tuesday. 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 Co. has a 1-year low of $686.26 and a 1-year high of $1,008.25. The firm has a market capitalization of $428.47 billion, a P/E ratio of 56.68, a P/E/G ratio of 5.63 and a beta of 0.84. The business’s 50-day simple moving average is $951.57 and its 200-day simple moving average is $903.97.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given 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 yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is 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.