Pinnacle Financial Partners Inc Purchases 1,972 Shares of Costco Wholesale Co. (NASDAQ:COST)

Pinnacle Financial Partners Inc increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 38,466 shares of the retailer’s stock after acquiring an additional 1,972 shares during the period. Costco Wholesale comprises 0.7% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 26th biggest position. Pinnacle Financial Partners Inc’s holdings in Costco Wholesale were worth $35,164,000 as of its most recent SEC filing.

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

Costco Wholesale Stock Up 0.0 %

Shares of Costco Wholesale stock opened at $1,035.03 on Friday. The firm’s 50 day moving average price is $975.61 and its 200-day moving average price is $930.59. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.23. The company has a market cap of $459.45 billion, a P/E ratio of 60.78, a PEG ratio of 6.15 and a beta of 0.84.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating and issued a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Citigroup lifted their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. BMO Capital Markets lifted their price objective on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Evercore ISI lifted their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Company 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.