Arcadia Investment Management Corp MI Sells 679 Shares of Costco Wholesale Co. (NASDAQ:COST)

Arcadia Investment Management Corp MI lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,748 shares of the retailer’s stock after selling 679 shares during the quarter. Costco Wholesale accounts for 3.8% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 7th biggest position. Arcadia Investment Management Corp MI’s holdings in Costco Wholesale were worth $23,592,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in COST. International Assets Investment Management LLC raised its position in Costco Wholesale by 113,947.9% in the third 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 during the period. Strategic Financial Concepts LLC increased its position in shares of Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of 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 boosted its holdings in Costco Wholesale by 75,894.4% in the third quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock valued at $300,473,000 after purchasing an additional 338,489 shares during the last quarter. Finally, FMR LLC grew its stake in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after purchasing an additional 324,973 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 2.7 %

Costco Wholesale stock opened at $1,034.22 on Friday. The firm has a 50-day moving average price of $974.70 and a two-hundred day moving average price of $928.97. The firm has a market capitalization of $459.09 billion, a price-to-earnings ratio of 60.73, a PEG ratio of 6.32 and a beta of 0.84. 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 Co. has a 52-week low of $697.27 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COST. UBS Group upped their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. 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 report on Tuesday, December 10th. TD Cowen upped their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

About Costco Wholesale

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.