Elevate Capital Advisors LLC Makes New $1.11 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

Elevate Capital Advisors LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,211 shares of the retailer’s stock, valued at approximately $1,110,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale during the 4th quarter worth about $33,000. Barrett & Company Inc. grew its position in Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $41,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $55,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COST. Raymond James increased their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Jefferies Financial Group increased their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Barclays increased their target price on shares of 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, Evercore ISI increased their target price on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and nineteen have assigned 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 $1,021.93.

Costco Wholesale Trading Up 1.7 %

COST opened at $1,061.92 on Tuesday. 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 company’s 50 day simple moving average is $961.27 and its two-hundred day simple moving average is $915.02. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,063.00. The firm has a market capitalization of $471.39 billion, a price-to-earnings ratio of 62.36, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio is currently 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.