Elite Wealth Management Inc. Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Elite Wealth Management Inc. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,243 shares of the retailer’s stock after selling 379 shares during the period. Costco Wholesale comprises 0.7% of Elite Wealth Management Inc.’s holdings, making the stock its 16th biggest position. Elite Wealth Management Inc.’s holdings in Costco Wholesale were worth $5,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale during the third quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $33,000. Collier Financial bought a new stake in Costco Wholesale during the 4th quarter valued at approximately $35,000. Barrett & Company Inc. lifted its holdings in Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $41,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COST shares. Evercore ISI lifted their price objective on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Roth Mkm raised their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Loop Capital boosted their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. UBS Group increased their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Trading Up 0.0 %

COST opened at $1,035.03 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The stock’s 50 day moving average price is $975.61 and its 200-day moving average price is $930.59. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,078.23. The stock has a market cap of $459.45 billion, a price-to-earnings ratio of 60.78, a P/E/G ratio of 6.32 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

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.