Heirloom Wealth Management Increases Position in Costco Wholesale Co. (NASDAQ:COST)

Heirloom Wealth Management grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 48.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684 shares of the retailer’s stock after purchasing an additional 551 shares during the quarter. Costco Wholesale comprises approximately 0.5% of Heirloom Wealth Management’s portfolio, making the stock its 25th largest holding. Heirloom Wealth Management’s holdings in Costco Wholesale were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COST. Geode Capital Management LLC increased its position in Costco Wholesale by 1.7% during the third 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 last quarter. FMR LLC grew its stake in shares of Costco Wholesale by 3.6% in the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after buying an additional 324,973 shares during the period. International Assets Investment Management LLC increased its holdings 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 buying an additional 7,364,453 shares during the last quarter. Jennison Associates LLC raised 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 buying an additional 125,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Costco Wholesale by 2.3% in the third 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 acquiring an additional 70,561 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $958.67 on Wednesday. The firm has a market cap of $425.55 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth ratio of 5.63 and a beta of 0.84. 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 1-year low of $686.26 and a 1-year high of $1,008.25. The firm’s fifty day moving average price is $952.49 and its 200 day moving average price is $904.81.

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 paid 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 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Loop Capital raised their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. BMO Capital Markets boosted their price target 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. Tigress Financial reissued a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

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.