Schmidt P J Investment Management Inc. Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Schmidt P J Investment Management Inc. trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 7,298 shares of the retailer’s stock after selling 83 shares during the period. Costco Wholesale accounts for approximately 1.2% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 28th largest position. Schmidt P J Investment Management Inc.’s holdings in Costco Wholesale were worth $6,687,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new position in shares of Costco Wholesale during the 3rd quarter worth $42,896,000. Gunderson Capital Management Inc. lifted its position in Costco Wholesale by 47.0% in the third quarter. Gunderson Capital Management Inc. now owns 435 shares of the retailer’s stock valued at $385,000 after buying an additional 139 shares during the last quarter. CWM LLC lifted its position in Costco Wholesale by 6.1% in the third quarter. CWM LLC now owns 54,764 shares of the retailer’s stock valued at $48,550,000 after buying an additional 3,151 shares during the last quarter. Wedmont Private Capital lifted its position in Costco Wholesale by 9.1% in the third quarter. Wedmont Private Capital now owns 5,152 shares of the retailer’s stock valued at $4,501,000 after buying an additional 429 shares during the last quarter. Finally, Clarus Wealth Advisors lifted its position in Costco Wholesale by 3.2% in the third quarter. Clarus Wealth Advisors now owns 836 shares of the retailer’s stock valued at $730,000 after buying an additional 26 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COST shares. TD Cowen upped their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Monday. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group upped their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $1,050.99 on Friday. The firm has a market capitalization of $466.53 billion, a P/E ratio of 61.71, a P/E/G ratio of 5.84 and a beta of 0.84. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,063.00. 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 firm’s 50 day moving average is $958.04 and its two-hundred day moving average is $911.67.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.44%. Costco Wholesale’s dividend payout ratio is currently 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.