Mengis Capital Management Inc. Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Mengis Capital Management Inc. trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,794 shares of the retailer’s stock after selling 1,987 shares during the period. Costco Wholesale makes up approximately 2.4% of Mengis Capital Management Inc.’s holdings, making the stock its 7th largest holding. Mengis Capital Management Inc.’s holdings in Costco Wholesale were worth $11,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its stake in Costco Wholesale by 0.9% during the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock valued at $1,048,000 after acquiring an additional 10 shares during the period. 44 Wealth Management LLC grew its stake in shares of 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 purchasing an additional 10 shares during the period. Sculati Wealth Management LLC grew its stake in shares of 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 purchasing an additional 11 shares during the period. Sivia Capital Partners LLC grew its stake in shares of 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 purchasing an additional 11 shares during the period. Finally, Gill Capital Partners LLC grew its stake in shares of 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 purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Roth Mkm upped their price objective on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. BMO Capital Markets increased their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Costco Wholesale in a report on Friday, February 14th. DA Davidson increased their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price Performance

COST stock opened at $1,035.60 on Tuesday. The stock has a 50-day moving average price of $976.47 and a two-hundred day moving average price of $933.62. The stock has a market cap of $459.70 billion, a PE ratio of 60.81, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. 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 Co. has a 1 year low of $697.27 and a 1 year high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend 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.