Laffer Tengler Investments Inc. Has $5.66 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Laffer Tengler Investments Inc. lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 14.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,180 shares of the retailer’s stock after buying an additional 769 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Costco Wholesale were worth $5,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB raised its holdings in shares of Costco Wholesale by 1.5% during the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after buying an additional 6,495 shares in the last quarter. Intact Investment Management Inc. acquired a new position in Costco Wholesale during the third quarter worth about $390,000. Moloney Securities Asset Management LLC lifted its holdings in shares of Costco Wholesale by 13.3% in the third quarter. Moloney Securities Asset Management LLC now owns 2,130 shares of the retailer’s stock worth $1,889,000 after acquiring an additional 250 shares during the last quarter. FSM Wealth Advisors LLC boosted its stake in shares of Costco Wholesale by 3.7% in the 3rd quarter. FSM Wealth Advisors LLC now owns 3,109 shares of the retailer’s stock valued at $2,756,000 after purchasing an additional 110 shares in the last quarter. Finally, James J. Burns & Company LLC grew its holdings in shares of Costco Wholesale by 34.5% during the 3rd quarter. James J. Burns & Company LLC now owns 745 shares of the retailer’s stock valued at $661,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.0 %

Shares of NASDAQ COST opened at $1,036.87 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a market cap of $460.27 billion, a P/E ratio of 60.88, a P/E/G ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,078.24. The business has a 50-day simple moving average of $986.01 and a two-hundred day simple moving average of $941.00.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.45%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COST. 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 report on Friday, December 13th. Evercore ISI reaffirmed a “hold” rating on shares of Costco Wholesale in a research report on Friday, February 14th. Raymond James upped their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Truist Financial raised their price objective on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, DA Davidson upped their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,021.93.

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.