Private Management Group Inc. Raises Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Private Management Group Inc. increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 51.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,479 shares of the retailer’s stock after acquiring an additional 505 shares during the quarter. Private Management Group Inc.’s holdings in Costco Wholesale were worth $1,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale in the 3rd quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale during the 4th quarter worth $33,000. FSC Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $41,000. Retirement Wealth Solutions LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COST. Truist Financial lifted their target price on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Raymond James lifted their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their target price 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. Barclays lifted their target price 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. Finally, DA Davidson boosted their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Stock Up 0.8 %

Shares of COST opened at $1,050.99 on Friday. The stock has a market capitalization of $466.53 billion, a PE ratio of 61.71, a P/E/G ratio of 5.84 and a beta of 0.84. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,063.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The company’s 50-day simple moving average is $958.04 and its 200-day simple moving average is $911.67.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders 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 annualized dividend and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

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.