Eagle Ridge Investment Management Purchases Shares of 219 Costco Wholesale Co. (NASDAQ:COST)

Eagle Ridge Investment Management acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 219 shares of the retailer’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB bought a new stake in Costco Wholesale in the 3rd quarter valued at $42,896,000. Tobam lifted its holdings in shares of Costco Wholesale by 22.8% during the third quarter. Tobam now owns 453 shares of the retailer’s stock worth $402,000 after buying an additional 84 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Costco Wholesale by 12.6% in the third quarter. Pinnacle Bancorp Inc. now owns 5,639 shares of the retailer’s stock valued at $4,999,000 after acquiring an additional 631 shares during the period. Contravisory Investment Management Inc. grew its stake in shares of Costco Wholesale by 0.5% in the third quarter. Contravisory Investment Management Inc. now owns 11,116 shares of the retailer’s stock valued at $9,855,000 after acquiring an additional 57 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in Costco Wholesale during the third quarter worth about $1,915,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COST has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI increased their target price on Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Sanford C. Bernstein started coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,043.81 on Friday. The stock’s 50-day moving average is $959.83 and its 200-day moving average is $912.64. The stock has a market cap of $463.35 billion, a P/E ratio of 61.29, a price-to-earnings-growth 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 current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Dividend Announcement

The firm 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 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 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.