Palumbo Wealth Management LLC Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Palumbo Wealth Management LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,018 shares of the retailer’s stock after buying an additional 350 shares during the period. Costco Wholesale accounts for 2.1% of Palumbo Wealth Management LLC’s holdings, making the stock its 11th biggest holding. Palumbo Wealth Management LLC’s holdings in Costco Wholesale were worth $5,514,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Costco Wholesale by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after buying an additional 162,191 shares during the last quarter. FMR LLC raised its position in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after buying an additional 324,973 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after purchasing an additional 125,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 valued at $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.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $1,071.85 on Monday. The firm’s 50-day moving average is $969.49 and its two-hundred day moving average is $923.13. 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 Co. has a 12-month low of $697.27 and a 12-month high of $1,078.23. The stock has a market capitalization of $475.79 billion, a P/E ratio of 62.94, a P/E/G ratio of 6.26 and a beta of 0.84.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.43%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, February 3rd. Robert W. Baird increased their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Raymond James increased their price target on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Barclays increased their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, BMO Capital Markets increased their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Profile

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.