Asset Allocation & Management Company LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Asset Allocation & Management Company LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, HoldingsChannel reports. The fund purchased 520 shares of the retailer’s stock, valued at approximately $476,000.

Other large investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC raised its stake in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Costco Wholesale in the 3rd quarter valued at $58,000. Christopher J. Hasenberg Inc raised its stake in Costco Wholesale by 329.4% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock valued at $65,000 after acquiring an additional 56 shares during the period. Finally, VitalStone Financial LLC bought a new stake in Costco Wholesale in the 3rd quarter valued at $71,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ:COST traded down $12.80 during trading hours on Monday, hitting $924.14. The company’s stock had a trading volume of 627,304 shares, compared to its average volume of 1,767,463. The stock has a fifty day simple moving average of $947.92 and a 200-day simple moving average of $899.20. The company has a market capitalization of $410.22 billion, a P/E ratio of 54.27, a PEG ratio of 6.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a twelve month low of $675.96 and a twelve month high of $1,008.25.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is 27.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COST shares. Oppenheimer restated 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 increased their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Melius Research initiated coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.