Griffin Asset Management Inc. Trims Holdings in Costco Wholesale Co. (NASDAQ:COST)

Griffin Asset Management Inc. lowered its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,418 shares of the retailer’s stock after selling 88 shares during the quarter. Griffin Asset Management Inc.’s holdings in Costco Wholesale were worth $7,713,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of COST. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the 3rd quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $33,000. FSC Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $41,000. Retirement Wealth Solutions LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale during the third quarter valued at $58,000. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, January 9th. UBS Group increased their price target on Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Evercore ISI lifted their price objective 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. Stifel Nicolaus increased their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, TD Cowen boosted their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.59.

Costco Wholesale Stock Up 0.6 %

Shares of NASDAQ:COST opened at $964.02 on Thursday. The business’s 50 day moving average is $953.06 and its 200 day moving average is $905.62. The stock has a market cap of $427.93 billion, a P/E ratio of 56.61, a price-to-earnings-growth ratio of 5.63 and a beta of 0.84. Costco Wholesale Co. has a 52-week low of $690.80 and a 52-week high of $1,008.25. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale Dividend Announcement

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 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 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.