Costco Wholesale Co. (NASDAQ:COST) Position Boosted by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,326 shares of the retailer’s stock after purchasing an additional 42 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Costco Wholesale were worth $1,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Costco Wholesale by 113,947.9% during 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 buying an additional 7,364,453 shares in the last quarter. Wulff Hansen & CO. lifted its position in shares of Costco Wholesale by 99,208.6% in the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after acquiring an additional 1,473,248 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Costco Wholesale by 28.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after purchasing an additional 338,780 shares during the period. Pathway Financial Advisers LLC grew its position in Costco Wholesale by 75,894.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock worth $300,473,000 after purchasing an additional 338,489 shares in the last quarter. Finally, FMR LLC raised 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 during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.3 %

Shares of COST opened at $924.70 on Tuesday. Costco Wholesale Co. has a 52 week low of $675.96 and a 52 week high of $1,008.25. The firm has a market capitalization of $410.47 billion, a P/E ratio of 54.30, a P/E/G ratio of 6.02 and a beta of 0.84. The company has a 50-day simple moving average of $948.69 and a 200-day simple moving average of $899.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is presently 27.25%.

Insider Activity

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on COST shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 target price (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Truist Financial lifted 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. The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus upped their price objective on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Raymond James lifted their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on 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 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.