Jennison Associates LLC Sells 166,938 Shares of Costco Wholesale Co. (NASDAQ:COST)

Jennison Associates LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,232,189 shares of the retailer’s stock after selling 166,938 shares during the period. Costco Wholesale accounts for 1.8% of Jennison Associates LLC’s portfolio, making the stock its 12th largest holding. Jennison Associates LLC’s holdings in Costco Wholesale were worth $2,961,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale during the third quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $33,000. FSC Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $41,000. Retirement Wealth Solutions LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth $55,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $1,021.86 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The business’s 50-day simple moving average is $955.41 and its 200 day simple moving average is $909.45. The firm has a market capitalization of $453.60 billion, a PE ratio of 60.00, a PEG ratio of 5.84 and a beta of 0.84. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,024.35.

Costco Wholesale Announces Dividend

The company 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 $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Analyst Upgrades and Downgrades

COST has been the topic of several analyst reports. Truist Financial increased their target price 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 increased their price target on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Evercore ISI upped their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

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.