Mengis Capital Management Inc. Has $11.72 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Mengis Capital Management Inc. decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,794 shares of the retailer’s stock after selling 1,987 shares during the period. Costco Wholesale accounts for approximately 2.4% of Mengis Capital Management Inc.’s holdings, making the stock its 7th largest position. Mengis Capital Management Inc.’s holdings in Costco Wholesale were worth $11,722,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Costco Wholesale by 1.1% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,471 shares of the retailer’s stock valued at $6,845,000 after acquiring an additional 81 shares in the last quarter. Prasad Wealth Partners LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $491,000. BankPlus Trust Department acquired a new stake in Costco Wholesale in the 4th quarter valued at about $1,353,000. Impax Asset Management Group plc acquired a new stake in Costco Wholesale in the 4th quarter valued at about $634,000. Finally, Edge Capital Group LLC lifted its stake in Costco Wholesale by 752.5% in the 4th quarter. Edge Capital Group LLC now owns 15,269 shares of the retailer’s stock valued at $13,991,000 after purchasing an additional 13,478 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Telsey Advisory Group reiterated an “outperform” rating on shares of Costco Wholesale in a research note on Friday, February 14th. DA Davidson raised their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Loop Capital raised their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Citigroup raised their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Stock Up 0.1 %

NASDAQ COST opened at $1,035.60 on Tuesday. 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 1-year low of $697.27 and a 1-year high of $1,078.23. The company has a 50 day moving average of $976.47 and a 200-day moving average of $933.62. The company has a market cap of $459.70 billion, a price-to-earnings ratio of 60.81, a PEG 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. Investors of record on Friday, February 7th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.45%. Costco Wholesale’s dividend payout ratio (DPR) is 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.