Cullinan Associates Inc. Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

Cullinan Associates Inc. lessened its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 22.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,883 shares of the retailer’s stock after selling 3,634 shares during the period. Cullinan Associates Inc.’s holdings in Costco Wholesale were worth $11,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Costco Wholesale by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after acquiring an additional 932 shares in the last quarter. Hudson Value Partners LLC lifted its stake in shares of Costco Wholesale by 7.6% in the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after acquiring an additional 568 shares in the last quarter. Nwam LLC acquired a new position in shares of Costco Wholesale in the third quarter worth about $20,056,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $8,430,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Loop Capital boosted their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial boosted their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Barclays upped their price objective on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Robert W. Baird upped their price objective on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,021.86 on Wednesday. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,024.35. The stock has a fifty day moving average of $955.41 and a 200-day moving average of $909.45. The company has a market capitalization of $453.60 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. Costco Wholesale’s dividend payout ratio (DPR) is presently 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.