Summit Wealth & Retirement Planning Inc. Acquires 76 Shares of Costco Wholesale Co. (NASDAQ:COST)

Summit Wealth & Retirement Planning Inc. grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527 shares of the retailer’s stock after acquiring an additional 76 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in Costco Wholesale were worth $483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares during the last quarter. Hudson Value Partners LLC grew its holdings in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the period. Nwam LLC acquired a new position in Costco Wholesale during the third quarter worth approximately $20,056,000. CHURCHILL MANAGEMENT Corp bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $8,430,000. Finally, GAMMA Investing LLC lifted its position in shares of Costco Wholesale by 15.0% in the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock valued at $7,020,000 after buying an additional 1,001 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley increased their price objective 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. Truist Financial lifted their target price on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Loop Capital increased their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,043.81 on Monday. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,063.00. The stock has a market cap of $463.35 billion, a PE ratio of 61.29, a PEG ratio of 6.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The firm’s fifty day moving average price is $961.27 and its two-hundred day moving average price is $914.43.

Costco Wholesale Announces Dividend

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

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.