Archer Investment Corp Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Archer Investment Corp lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,290 shares of the retailer’s stock after selling 42 shares during the period. Archer Investment Corp’s holdings in Costco Wholesale were worth $1,182,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale during the 4th quarter worth approximately $33,000. FSC Wealth Advisors LLC purchased a new position in Costco Wholesale in the 4th quarter worth approximately $41,000. Retirement Wealth Solutions LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale during the 3rd quarter valued at $58,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COST. Wells Fargo & Company boosted their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley boosted their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. BMO Capital Markets raised their price target on 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. Truist Financial boosted their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Trading Down 0.7 %

NASDAQ:COST opened at $1,043.81 on Friday. The stock has a market cap of $463.35 billion, a price-to-earnings ratio of 61.29, a PEG ratio of 5.84 and a beta of 0.84. 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 company’s 50 day moving average price is $959.83 and its 200-day moving average price is $912.64. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,063.00.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 annualized dividend and a yield of 0.44%. Costco Wholesale’s dividend payout ratio is 27.25%.

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.