Promus Capital LLC Acquires New Shares in Costco Wholesale Co. (NASDAQ:COST)

Promus Capital LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 685 shares of the retailer’s stock, valued at approximately $628,000. Costco Wholesale comprises about 0.6% of Promus Capital LLC’s holdings, making the stock its 26th largest holding.

Several other institutional investors also recently modified their holdings of COST. Proficio Capital Partners LLC boosted its position in shares of Costco Wholesale by 74,796.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after buying an additional 1,519,861 shares during the last quarter. Strategic Financial Concepts LLC boosted its position 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. boosted its position in shares of Costco Wholesale by 55.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock valued at $979,284,000 after buying an additional 382,367 shares during the last quarter. FMR LLC boosted its position in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new position in Costco Wholesale in the fourth quarter worth about $157,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 1.0 %

Shares of COST opened at $1,047.75 on Thursday. 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 Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24. The business’s 50 day moving average is $987.79 and its 200 day moving average is $941.75. The company has a market capitalization of $465.10 billion, a PE ratio of 61.52, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

Analyst Upgrades and Downgrades

COST has been the topic of several research reports. UBS Group raised their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays raised their target price on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Raymond James raised their target price on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Robert W. Baird raised their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale 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.