Adirondack Trust Co. Has $1.43 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Adirondack Trust Co. lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,560 shares of the retailer’s stock after selling 37 shares during the period. Adirondack Trust Co.’s holdings in Costco Wholesale were worth $1,429,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Costco Wholesale by 55.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock worth $979,284,000 after purchasing an additional 382,367 shares during the period. Pathway Financial Advisers LLC boosted its stake in Costco Wholesale by 75,894.4% in the third quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock valued at $300,473,000 after acquiring an additional 338,489 shares during the last quarter. FMR LLC lifted its stake in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after purchasing an additional 324,973 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Costco Wholesale by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock valued at $8,380,648,000 after buying an additional 162,191 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $942.16 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $950.56 and its 200-day moving average price is $903.04. Costco Wholesale Co. has a 52 week low of $675.96 and a 52 week high of $1,008.25. The stock has a market cap of $418.22 billion, a P/E ratio of 55.32, a P/E/G ratio of 5.65 and a beta of 0.84.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders 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 dividend yield of 0.49%. Costco Wholesale’s payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COST shares. The Goldman Sachs Group raised their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, January 9th. Loop Capital increased their target price 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. Tigress Financial reiterated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.