Ridgecrest Wealth Partners LLC Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Ridgecrest Wealth Partners LLC increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 26.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,574 shares of the retailer’s stock after buying an additional 325 shares during the quarter. Costco Wholesale comprises 0.8% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Ridgecrest Wealth Partners LLC’s holdings in Costco Wholesale were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in shares of Costco Wholesale by 1.1% during the second quarter. Truist Financial Corp now owns 316,993 shares of the retailer’s stock worth $269,441,000 after purchasing an additional 3,526 shares during the period. IMS Capital Management increased its stake in shares of Costco Wholesale by 7.1% during the second quarter. IMS Capital Management now owns 3,794 shares of the retailer’s stock worth $3,324,000 after acquiring an additional 252 shares during the period. Ted Buchan & Co purchased a new position in Costco Wholesale during the second quarter worth about $2,677,000. 3Chopt Investment Partners LLC purchased a new stake in Costco Wholesale in the 2nd quarter valued at approximately $446,000. Finally, Aldebaran Financial Inc. purchased a new stake in Costco Wholesale in the 2nd quarter valued at approximately $212,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $958.67 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale Co. has a 12 month low of $686.26 and a 12 month high of $1,008.25. The firm has a market capitalization of $425.55 billion, a PE ratio of 56.29, a P/E/G ratio of 5.63 and a beta of 0.84. The business has a 50-day moving average of $952.49 and a two-hundred day moving average of $904.81.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

COST has been the topic of several recent analyst reports. Roth Mkm upped their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird boosted their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Evercore ISI raised their price target on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Company 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.