Smithfield Trust Co Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Smithfield Trust Co reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,027 shares of the retailer’s stock after selling 14 shares during the quarter. Smithfield Trust Co’s holdings in Costco Wholesale were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC raised its holdings in shares of Costco Wholesale by 74,796.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock worth $1,394,465,000 after buying an additional 1,519,861 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock valued at $729,476,000 after buying an additional 795,345 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Costco Wholesale by 55.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock valued at $979,284,000 after acquiring an additional 382,367 shares during the period. FMR LLC raised its stake in Costco Wholesale by 3.6% in the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new stake in Costco Wholesale during the 4th quarter worth about $157,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST opened at $1,036.87 on Wednesday. The stock has a 50 day moving average of $986.01 and a two-hundred day moving average of $941.00. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,078.24. The firm has a market cap of $460.27 billion, a P/E ratio of 60.88, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on COST shares. Oppenheimer reissued an “outperform” rating and issued a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. BMO Capital Markets increased their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Citigroup increased their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Loop Capital boosted their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,021.93.

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.