Banque Pictet & Cie SA Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Banque Pictet & Cie SA decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,401 shares of the retailer’s stock after selling 807 shares during the period. Banque Pictet & Cie SA’s holdings in Costco Wholesale were worth $6,781,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Costco Wholesale by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares in the last quarter. Hudson Value Partners LLC boosted its stake in Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares in the last quarter. Nwam LLC acquired a new stake in Costco Wholesale in the 3rd quarter worth approximately $20,056,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Costco Wholesale in the 4th quarter worth approximately $8,430,000. Finally, GAMMA Investing LLC boosted its stake in Costco Wholesale by 15.0% in the 4th quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Barclays raised their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup raised 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 report on Wednesday, December 18th. Truist Financial raised their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, Loop Capital raised 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 report on Friday, December 13th. 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 has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $1,071.85 on Friday. The firm has a market cap of $475.79 billion, a PE ratio of 62.94, a PEG ratio of 6.26 and a beta of 0.84. The firm has a fifty day moving average of $967.91 and a 200 day moving average of $920.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,078.23.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s payout ratio is presently 27.25%.

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.