Benin Management CORP Sells 256 Shares of Costco Wholesale Co. (NASDAQ:COST)

Benin Management CORP lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,796 shares of the retailer’s stock after selling 256 shares during the period. Costco Wholesale makes up approximately 1.5% of Benin Management CORP’s holdings, making the stock its 12th largest position. Benin Management CORP’s holdings in Costco Wholesale were worth $5,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COST. Charles Schwab Investment Management Inc. grew its position in shares of Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after acquiring an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares in the last quarter. Hudson Value Partners LLC grew its holdings in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after purchasing an additional 568 shares during the period. Nwam LLC purchased a new stake in Costco Wholesale in the third quarter worth about $20,056,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Costco Wholesale in the fourth quarter worth about $8,430,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $939.68 on Friday. Costco Wholesale Co. has a 1-year low of $675.96 and a 1-year high of $1,008.25. The company’s 50-day moving average is $951.57 and its 200 day moving average is $903.72. The firm has a market capitalization of $417.12 billion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 5.63 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.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COST. Robert W. Baird lifted their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Raymond James upped their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Evercore ISI boosted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Citigroup increased their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Finally, Barclays boosted their price target on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

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.