Summit Wealth Partners LLC Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Summit Wealth Partners LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 24.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 301 shares of the retailer’s stock after buying an additional 59 shares during the quarter. Summit Wealth Partners LLC’s holdings in Costco Wholesale were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COST. Geode Capital Management LLC boosted its holdings in Costco Wholesale by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after purchasing an additional 162,191 shares during the last quarter. FMR LLC boosted its holdings in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Jennison Associates LLC boosted its holdings in Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after purchasing an additional 125,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Costco Wholesale by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after purchasing an additional 70,561 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $1,050.99 on Friday. 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 has a market cap of $466.53 billion, a P/E ratio of 61.71, a P/E/G ratio of 5.84 and a beta of 0.84. The firm’s fifty day moving average is $958.04 and its two-hundred day moving average is $911.67. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,063.00.

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 issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COST. Wells Fargo & Company raised their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Truist Financial lifted their price target 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. Loop Capital lifted their price target 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. Finally, Citigroup lifted their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.93.

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.