Sitrin Capital Management LLC Trims Holdings in Costco Wholesale Co. (NASDAQ:COST)

Sitrin Capital Management LLC decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,582 shares of the retailer’s stock after selling 27 shares during the quarter. Costco Wholesale comprises about 4.4% of Sitrin Capital Management LLC’s portfolio, making the stock its 5th largest holding. Sitrin Capital Management LLC’s holdings in Costco Wholesale were worth $8,780,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC increased its position in Costco Wholesale by 100,422.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after purchasing an additional 795,345 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Costco Wholesale by 55.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock worth $979,284,000 after buying an additional 382,367 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Costco Wholesale by 75,894.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock worth $300,473,000 after buying an additional 338,489 shares during the last quarter. FMR LLC raised its position in shares of 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 buying an additional 324,973 shares in the last quarter. Finally, Life Planning Partners Inc bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $157,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.9 %

COST opened at $1,055.66 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a market cap of $468.61 billion, a price-to-earnings ratio of 61.99, a PEG ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,078.23. The stock has a fifty day moving average price of $977.94 and a 200-day moving average price of $935.03.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Analysts Set New Price Targets

A number of brokerages have issued reports on COST. Truist Financial upped their price objective on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Raymond James increased their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their price objective on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Evercore ISI reissued a “hold” rating on shares of Costco Wholesale in a research note on Friday, February 14th. Finally, Barclays lifted their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale 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.