Elevation Wealth Partners LLC Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Elevation Wealth Partners LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 12.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,020 shares of the retailer’s stock after selling 139 shares during the period. Elevation Wealth Partners LLC’s holdings in Costco Wholesale were worth $935,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Costco Wholesale by 113,947.9% during 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 acquiring an additional 7,364,453 shares during the period. Strategic Financial Concepts LLC boosted its position in Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after purchasing an additional 795,345 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Costco Wholesale by 55.7% in 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 acquiring an additional 382,367 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of 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 in the last quarter. Finally, FMR LLC lifted its position in shares of 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 acquiring an additional 324,973 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

COST opened at $1,061.92 on Tuesday. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,063.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company’s 50 day simple moving average is $961.27 and its 200-day simple moving average is $915.02. The stock has a market capitalization of $471.39 billion, a P/E ratio of 62.36, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84.

Costco Wholesale Dividend Announcement

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 annualized dividend and a yield of 0.44%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Loop Capital raised their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI boosted their target price on Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Stifel Nicolaus lifted their price target on Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Oppenheimer restated an “outperform” rating and issued a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Finally, Robert W. Baird boosted 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. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average 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.