Costco Wholesale Co. (NASDAQ:COST) Stake Lowered by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,526 shares of the retailer’s stock after selling 924 shares during the quarter. Costco Wholesale comprises approximately 3.1% of L. Roy Papp & Associates LLP’s portfolio, making the stock its 8th biggest position. L. Roy Papp & Associates LLP’s holdings in Costco Wholesale were worth $26,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of COST. Authentikos Wealth Advisory LLC raised its holdings in Costco Wholesale by 661.1% in the 4th quarter. Authentikos Wealth Advisory LLC now owns 274 shares of the retailer’s stock worth $251,000 after acquiring an additional 238 shares during the last quarter. Leavell Investment Management Inc. increased its holdings in shares of Costco Wholesale by 6.7% in the 4th quarter. Leavell Investment Management Inc. now owns 2,276 shares of the retailer’s stock worth $2,085,000 after purchasing an additional 142 shares in the last quarter. Portfolio Design Labs LLC increased its holdings in shares of Costco Wholesale by 110.9% in the 4th quarter. Portfolio Design Labs LLC now owns 987 shares of the retailer’s stock worth $904,000 after purchasing an additional 519 shares in the last quarter. Fortress Financial Solutions LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $478,000. Finally, Quent Capital LLC lifted its holdings in shares of Costco Wholesale by 7.9% during the fourth quarter. Quent Capital LLC now owns 2,618 shares of the retailer’s stock valued at $2,399,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,058.34 on Wednesday. The company has a market capitalization of $469.80 billion, a P/E ratio of 62.15, a P/E/G ratio of 6.26 and a beta of 0.84. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,066.00. The firm’s 50 day simple moving average is $963.01 and its two-hundred day simple moving average is $916.76. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COST shares. Jefferies Financial Group lifted their price objective 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. Morgan Stanley lifted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Truist Financial increased 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. Tigress Financial restated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. 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 an average rating of “Moderate Buy” and a consensus 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.