SVB Wealth LLC Makes New $24.71 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

SVB Wealth LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,970 shares of the retailer’s stock, valued at approximately $24,712,000.

Several other hedge funds have also modified their holdings of the stock. Tower Bridge Advisors boosted its stake in shares of Costco Wholesale by 1.2% in the fourth quarter. Tower Bridge Advisors now owns 9,873 shares of the retailer’s stock valued at $9,046,000 after purchasing an additional 113 shares during the period. Illumine Investment Management LLC acquired a new position in Costco Wholesale in the 4th quarter worth $3,975,000. Tufton Capital Management boosted its position in Costco Wholesale by 1.0% in the 4th quarter. Tufton Capital Management now owns 2,604 shares of the retailer’s stock valued at $2,386,000 after buying an additional 27 shares during the last quarter. Veridan Wealth LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter valued at about $376,000. Finally, Waterway Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $226,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COST has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Robert W. Baird increased their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Evercore ISI restated a “hold” rating on shares of Costco Wholesale in a research note on Friday, February 14th. Stifel Nicolaus increased their price objective on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Oppenheimer reissued 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. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Up 2.6 %

COST stock opened at $1,048.61 on Friday. The stock has a market cap of $465.48 billion, a PE ratio of 61.57, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The firm’s 50-day simple moving average is $982.51 and its 200 day simple moving average is $937.59. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.23. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. 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.