Summit Asset Management LLC Decreases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Summit Asset Management LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,239 shares of the retailer’s stock after selling 62 shares during the period. Summit Asset Management LLC’s holdings in Costco Wholesale were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cromwell Holdings LLC boosted its position in Costco Wholesale by 0.9% in the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock valued at $1,048,000 after buying an additional 10 shares during the last quarter. 44 Wealth Management LLC boosted its position in Costco Wholesale by 0.3% in the 4th quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock valued at $3,196,000 after buying an additional 10 shares during the last quarter. Sculati Wealth Management LLC boosted its position in Costco Wholesale by 0.3% in the 3rd quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after buying an additional 11 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Costco Wholesale by 0.3% in the 4th quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock valued at $3,398,000 after buying an additional 11 shares during the last quarter. Finally, Gill Capital Partners LLC boosted its position in Costco Wholesale by 0.9% in the 4th quarter. Gill Capital Partners LLC now owns 1,270 shares of the retailer’s stock valued at $1,164,000 after buying an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on COST. UBS Group upped their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Roth Mkm upped their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barclays upped their target price on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Morgan Stanley upped their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets upped their target price on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Trading Up 0.0 %

Costco Wholesale stock opened at $1,035.03 on Friday. The firm has a 50 day simple moving average of $975.61 and a 200-day simple moving average of $931.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market capitalization of $459.45 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 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.