Riverstone Advisors LLC Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Riverstone Advisors LLC lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 689 shares of the retailer’s stock after acquiring an additional 176 shares during the period. Costco Wholesale makes up about 0.4% of Riverstone Advisors LLC’s holdings, making the stock its 26th largest holding. Riverstone Advisors LLC’s holdings in Costco Wholesale were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions 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 purchasing an additional 32,074 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after acquiring an additional 932 shares during the last quarter. Hudson Value Partners LLC raised its holdings in shares of Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after acquiring an additional 568 shares in the last quarter. Nwam LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter valued at about $20,056,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Costco Wholesale during the fourth quarter worth about $8,430,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Truist Financial increased their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. DA Davidson lifted their price target on Costco Wholesale from $880.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Raymond James increased their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

Costco Wholesale Stock Up 0.1 %

Shares of NASDAQ COST opened at $979.88 on Monday. The firm has a fifty day simple moving average of $954.51 and a two-hundred day simple moving average of $907.85. Costco Wholesale Co. has a 12 month low of $691.50 and a 12 month high of $1,008.25. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $434.97 billion, a PE ratio of 57.54, a price-to-earnings-growth ratio of 5.75 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.47%. Costco Wholesale’s payout ratio 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.