Golden State Wealth Management LLC Buys New Stake in Costco Wholesale Co. (NASDAQ:COST)

Golden State Wealth Management LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,068 shares of the retailer’s stock, valued at approximately $3,728,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Costco Wholesale by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock valued at $8,380,648,000 after buying an additional 162,191 shares in the last quarter. FMR LLC raised its position in Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the period. International Assets Investment Management LLC lifted its holdings 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 purchasing an additional 7,364,453 shares in the last quarter. Jennison Associates LLC grew its position in shares of Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after purchasing an additional 125,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Costco Wholesale by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after purchasing an additional 70,561 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Robert W. Baird boosted their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Tigress Financial restated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Loop Capital upped their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Trading Down 0.7 %

NASDAQ COST opened at $1,043.81 on Friday. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,063.00. The stock has a market capitalization of $463.35 billion, a P/E ratio of 61.29, a PEG ratio of 5.84 and a beta of 0.84. The firm’s 50-day moving average is $959.83 and its two-hundred day moving average is $912.64. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. Costco Wholesale’s payout ratio is currently 27.25%.

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.