McBroom & Associates LLC Increases Position in Costco Wholesale Co. (NASDAQ:COST)

McBroom & Associates LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,655 shares of the retailer’s stock after purchasing an additional 71 shares during the period. Costco Wholesale comprises 6.0% of McBroom & Associates LLC’s portfolio, making the stock its 2nd biggest position. McBroom & Associates LLC’s holdings in Costco Wholesale were worth $10,679,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in COST. Axecap Investments LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $3,206,000. Stonebridge Financial Group LLC bought a new position in Costco Wholesale in the fourth quarter worth approximately $387,000. Essex Financial Services Inc. lifted its holdings in Costco Wholesale by 5.6% during the fourth quarter. Essex Financial Services Inc. now owns 4,582 shares of the retailer’s stock worth $4,199,000 after buying an additional 245 shares during the period. Armor Investment Advisors LLC boosted its position in Costco Wholesale by 5.0% during the 4th quarter. Armor Investment Advisors LLC now owns 486 shares of the retailer’s stock valued at $445,000 after acquiring an additional 23 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC increased its holdings in shares of Costco Wholesale by 17.8% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 2,208 shares of the retailer’s stock valued at $2,023,000 after acquiring an additional 334 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent research reports. UBS Group raised their price objective 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. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective on the stock. Citigroup increased their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. BMO Capital Markets lifted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Loop Capital increased their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,058.34 on Wednesday. The firm has a market capitalization of $469.80 billion, a P/E ratio of 62.15, a PEG ratio of 6.26 and a beta of 0.84. The stock has a 50-day simple moving average of $963.01 and a two-hundred day simple moving average of $916.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,066.00.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s payout ratio is presently 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.