Permanent Capital Management LP Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Permanent Capital Management LP bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 322 shares of the retailer’s stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Swedbank AB increased its holdings in Costco Wholesale by 1.5% in the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after acquiring an additional 6,495 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in Costco Wholesale by 6.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 2,134 shares of the retailer’s stock worth $1,892,000 after acquiring an additional 123 shares in the last quarter. JB Capital LLC increased its holdings in Costco Wholesale by 2.5% in the 3rd quarter. JB Capital LLC now owns 849 shares of the retailer’s stock worth $754,000 after acquiring an additional 21 shares in the last quarter. Western Pacific Wealth Management LP boosted its stake in Costco Wholesale by 2.9% in the 3rd quarter. Western Pacific Wealth Management LP now owns 2,024 shares of the retailer’s stock worth $1,794,000 after purchasing an additional 57 shares during the period. Finally, Consolidated Planning Corp boosted its stake in Costco Wholesale by 33.4% in the 3rd quarter. Consolidated Planning Corp now owns 7,488 shares of the retailer’s stock worth $6,638,000 after purchasing an additional 1,876 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on COST. Barclays upped their price target on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. DA Davidson upped their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Truist Financial upped their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company upped their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Loop Capital dropped their price target on Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a research note on Friday. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

Costco Wholesale Stock Performance

COST stock opened at $964.31 on Friday. 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 business’s fifty day simple moving average is $989.69 and its two-hundred day simple moving average is $942.97. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.24. The firm has a market cap of $428.06 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 27.09%.

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.