Synergy Asset Management LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Synergy Asset Management LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 117.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,427 shares of the retailer’s stock after buying an additional 4,009 shares during the quarter. Synergy Asset Management LLC’s holdings in Costco Wholesale were worth $6,678,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fermata Advisors LLC grew its holdings in shares of Costco Wholesale by 0.6% in the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after acquiring an additional 11 shares during the period. Sculati Wealth Management LLC raised its stake in shares of Costco Wholesale by 0.3% during the 3rd quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock worth $3,235,000 after buying an additional 11 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Costco Wholesale by 0.3% in the 4th quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock worth $3,398,000 after buying an additional 11 shares in the last quarter. Gill Capital Partners LLC grew its stake in Costco Wholesale by 0.9% in the 4th quarter. Gill Capital Partners LLC now owns 1,270 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 11 shares during the last quarter. Finally, Scott Capital Advisors LLC increased its holdings in Costco Wholesale by 0.8% during the 4th quarter. Scott Capital Advisors LLC now owns 1,348 shares of the retailer’s stock valued at $1,247,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

COST opened at $979.88 on Friday. The company has a 50 day moving average of $954.19 and a two-hundred day moving average of $906.54. Costco Wholesale Co. has a 52-week low of $691.50 and a 52-week high of $1,008.25. 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 company has a market cap of $434.97 billion, a P/E ratio of 57.54, a P/E/G ratio of 5.75 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday, January 9th. Morgan Stanley upped their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Wells Fargo & Company lifted their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Raymond James upped their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.