Hodges Capital Management Inc. Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Hodges Capital Management Inc. lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 41.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,250 shares of the retailer’s stock after selling 1,572 shares during the quarter. Hodges Capital Management Inc.’s holdings in Costco Wholesale were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale in the third quarter valued at $29,000. Endeavor Private Wealth Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter valued at about $33,000. FSC Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth about $41,000. Retirement Wealth Solutions LLC purchased a new stake in Costco Wholesale in the fourth quarter valued at approximately $55,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Costco Wholesale during the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $1,021.86 on Wednesday. The firm has a market cap 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. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,024.35. The firm’s 50-day simple moving average is $955.41 and its 200-day simple moving average is $909.45. 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Analyst Upgrades and Downgrades

COST has been the subject of several research reports. Barclays boosted their price objective 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. Robert W. Baird upped their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Roth Mkm lifted their price objective on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

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.