HFR Wealth Management LLC Has $17.49 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

HFR Wealth Management LLC cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,083 shares of the retailer’s stock after selling 82 shares during the quarter. Costco Wholesale accounts for about 4.3% of HFR Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. HFR Wealth Management LLC’s holdings in Costco Wholesale were worth $17,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COST. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale during the third quarter worth about $29,000. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale in the fourth quarter valued at approximately $33,000. Collier Financial bought a new position in Costco Wholesale in the fourth quarter valued at approximately $35,000. Barrett & Company Inc. grew its stake in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after purchasing an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Costco Wholesale in the fourth quarter valued at approximately $41,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $1,046.85 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,078.24. The stock has a market capitalization of $464.70 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The stock has a fifty day moving average of $984.45 and a 200-day moving average of $939.83.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on COST shares. Wells Fargo & Company raised their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Truist Financial raised their price target on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Oppenheimer restated an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Barclays lifted their target price on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, UBS Group lifted their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

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.