Southern Style Financial Inc. Takes $4.30 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Southern Style Financial Inc. acquired a new position in Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,679 shares of the retailer’s stock, valued at approximately $4,299,000. Costco Wholesale accounts for approximately 3.5% of Southern Style Financial Inc.’s portfolio, making the stock its 6th largest holding.

A number of other hedge funds also recently bought and sold shares of COST. Geode Capital Management LLC lifted its stake in shares of Costco Wholesale by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after purchasing an additional 162,191 shares during the period. FMR LLC raised its position in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after acquiring an additional 7,364,453 shares during the last quarter. Jennison Associates LLC grew its position in shares of Costco Wholesale by 3.8% during the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after acquiring an additional 125,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Costco Wholesale by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after purchasing an additional 70,561 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on COST shares. DA Davidson boosted their price target on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Truist Financial raised their target price on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target for the company. Finally, BMO Capital Markets raised their price objective on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research report 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Up 0.6 %

Shares of NASDAQ COST opened at $964.02 on Thursday. 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 12-month low of $690.80 and a 12-month high of $1,008.25. The firm’s 50-day moving average price is $953.06 and its 200-day moving average price is $905.62. The stock has a market capitalization of $427.93 billion, a price-to-earnings ratio of 56.61, a P/E/G ratio of 5.63 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Friday, February 7th. 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.