CIBC Asset Management Inc Has $147.85 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

CIBC Asset Management Inc cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,401 shares of the retailer’s stock after selling 23,655 shares during the period. CIBC Asset Management Inc’s holdings in Costco Wholesale were worth $147,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale in the third quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale during the fourth quarter worth $33,000. Collier Financial purchased a new stake in Costco Wholesale in the 4th quarter valued at $35,000. Barrett & Company Inc. raised its position in Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after buying an additional 16 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Costco Wholesale during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COST shares. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. BMO Capital Markets increased 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 note on Friday, December 13th. Morgan Stanley lifted their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus upped their target price on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, February 3rd. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $1,071.85 on Tuesday. The stock has a fifty day moving average of $969.49 and a 200-day moving average of $923.85. The stock has a market cap of $475.79 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.23.

Costco Wholesale Announces Dividend

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 $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

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.