Alphinity Investment Management Pty Ltd Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Alphinity Investment Management Pty Ltd lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 652,143 shares of the retailer’s stock after selling 149,515 shares during the period. Costco Wholesale makes up approximately 3.2% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 17th biggest holding. Alphinity Investment Management Pty Ltd’s holdings in Costco Wholesale were worth $597,539,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new stake in Costco Wholesale in the third quarter valued at $29,000. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale in the fourth quarter valued at $33,000. Collier Financial acquired a new stake in Costco Wholesale in the fourth quarter valued at $35,000. Barrett & Company Inc. lifted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after acquiring an additional 16 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

COST has been the subject of several research reports. Roth Mkm lifted their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Morgan Stanley lifted their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and set 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 lifted 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. Finally, Raymond James boosted their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Down 2.2 %

Shares of NASDAQ:COST opened at $1,031.97 on Thursday. 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 Co. has a 1 year low of $697.27 and a 1 year high of $1,078.23. The stock has a market capitalization of $458.09 billion, a P/E ratio of 60.60, a PEG ratio of 6.15 and a beta of 0.84. The stock has a 50-day simple moving average of $979.28 and a 200-day simple moving average of $935.71.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

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.