Truist Financial Corp Has $282.71 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Truist Financial Corp lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 308,539 shares of the retailer’s stock after selling 4,457 shares during the quarter. Truist Financial Corp’s holdings in Costco Wholesale were worth $282,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale during the third quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth $33,000. Collier Financial bought a new position in shares of Costco Wholesale during the 4th quarter valued at $35,000. Barrett & Company Inc. boosted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Citigroup upped their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. 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. Loop Capital boosted their price objective on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price for the company. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,071.85 on Tuesday. The stock has a market cap of $475.79 billion, a P/E ratio of 62.94, a PEG ratio of 6.26 and a beta of 0.84. 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 Co. has a twelve month low of $697.27 and a twelve month high of $1,078.23. The company’s 50-day simple moving average is $969.49 and its 200 day simple moving average is $923.85.

Costco Wholesale Announces Dividend

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 given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is 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.