Flputnam Investment Management Co. Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Flputnam Investment Management Co. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 64,824 shares of the retailer’s stock after selling 789 shares during the period. Costco Wholesale comprises 1.1% of Flputnam Investment Management Co.’s holdings, making the stock its 16th biggest position. Flputnam Investment Management Co.’s holdings in Costco Wholesale were worth $59,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Tower Bridge Advisors boosted its position in Costco Wholesale by 1.2% during the 4th quarter. Tower Bridge Advisors now owns 9,873 shares of the retailer’s stock valued at $9,046,000 after acquiring an additional 113 shares in the last quarter. Illumine Investment Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth $3,975,000. Tufton Capital Management boosted its position in Costco Wholesale by 1.0% during the fourth quarter. Tufton Capital Management now owns 2,604 shares of the retailer’s stock valued at $2,386,000 after purchasing an additional 27 shares in the last quarter. Veridan Wealth LLC purchased a new position in Costco Wholesale in the fourth quarter valued at about $376,000. Finally, Waterway Wealth Management LLC bought a new position in Costco Wholesale in the fourth quarter worth about $226,000. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COST shares. DA Davidson raised their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Evercore ISI reaffirmed a “hold” rating on shares of Costco Wholesale in a report on Friday, February 14th. TD Cowen increased their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup raised their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird upped their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Up 2.6 %

Costco Wholesale stock opened at $1,048.61 on Friday. The business’s 50-day moving average price is $982.51 and its 200 day moving average price is $937.59. 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 $465.48 billion, a price-to-earnings ratio of 61.57, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) 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.