Beach Investment Counsel Inc. PA Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Beach Investment Counsel Inc. PA cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 63.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,167 shares of the retailer’s stock after selling 2,038 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Costco Wholesale were worth $1,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COST. RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale during the third quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $33,000. FSC Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $41,000. Retirement Wealth Solutions LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Costco Wholesale in the third quarter worth approximately $58,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on COST shares. Stifel Nicolaus upped their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Roth Mkm increased 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. Evercore ISI increased their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Barclays raised their price target on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company raised their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,042.88 on Thursday. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,043.09. The business has a fifty day moving average price of $956.42 and a 200-day moving average price of $910.75. The company has a market capitalization of $462.93 billion, a PE ratio of 61.24, a PEG ratio of 5.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.44%. Costco Wholesale’s payout ratio is 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.