Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Red Wave Investments LLC

Red Wave Investments LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,879 shares of the retailer’s stock after selling 45 shares during the period. Red Wave Investments LLC’s holdings in Costco Wholesale were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Costco Wholesale by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock valued at $8,380,648,000 after acquiring an additional 162,191 shares in the last quarter. FMR LLC lifted its position in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after purchasing an additional 324,973 shares during the period. International Assets Investment Management LLC boosted its holdings in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Jennison Associates LLC increased its position in Costco Wholesale by 3.8% during the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after purchasing an additional 125,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Costco Wholesale by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after buying an additional 70,561 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST opened at $1,035.03 on Friday. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.23. The firm has a market cap of $459.45 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The company’s 50-day moving average is $975.61 and its two-hundred day moving average is $930.59. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on COST. Truist Financial lifted their price target on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James increased their price target on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Loop Capital boosted their price objective on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Citigroup upped their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.93.

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.