Verus Wealth Management LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Verus Wealth Management LLC bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 258 shares of the retailer’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COST. Foster Group Inc. boosted its holdings in shares of Costco Wholesale by 3.1% in the 4th quarter. Foster Group Inc. now owns 854 shares of the retailer’s stock valued at $783,000 after acquiring an additional 26 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its position in Costco Wholesale by 2.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,288 shares of the retailer’s stock valued at $2,097,000 after purchasing an additional 59 shares during the period. Gateway Wealth Partners LLC boosted its holdings in Costco Wholesale by 33.8% in the fourth quarter. Gateway Wealth Partners LLC now owns 1,353 shares of the retailer’s stock valued at $1,240,000 after purchasing an additional 342 shares during the last quarter. BetterWealth LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $262,000. Finally, Southern Style Financial Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $4,299,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COST. Wells Fargo & Company raised their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. DA Davidson lifted their target price on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley increased their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. Finally, TD Cowen increased their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Stock Up 1.6 %

NASDAQ COST opened at $979.01 on Friday. The business’s fifty day simple moving average is $953.78 and its 200-day simple moving average is $906.03. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market cap of $434.58 billion, a PE ratio of 57.49, a P/E/G ratio of 5.63 and a beta of 0.84. Costco Wholesale Co. has a 52 week low of $691.50 and a 52 week high of $1,008.25.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.47%. 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.