Miracle Mile Advisors LLC Grows Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Miracle Mile Advisors LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 101.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,979 shares of the retailer’s stock after acquiring an additional 6,530 shares during the period. Miracle Mile Advisors LLC’s holdings in Costco Wholesale were worth $11,892,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fermata Advisors LLC raised its stake in shares of Costco Wholesale by 0.6% in the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after buying an additional 11 shares in the last quarter. Sculati Wealth Management LLC raised its stake in shares of Costco Wholesale by 0.3% in the 3rd quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock worth $3,235,000 after buying an additional 11 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Costco Wholesale by 0.3% in the 4th quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock worth $3,398,000 after buying an additional 11 shares in the last quarter. Perkins Coie Trust Co raised its stake in shares of Costco Wholesale by 0.3% in the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after buying an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC raised its stake in shares of Costco Wholesale by 3.5% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock worth $318,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $924.70 on Tuesday. The business has a 50 day moving average price of $948.69 and a 200 day moving average price of $899.73. Costco Wholesale Co. has a twelve month low of $675.96 and a twelve month high of $1,008.25. The company has a market cap of $410.47 billion, a price-to-earnings ratio of 54.30, a PEG ratio of 6.02 and a beta of 0.84. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.50%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Analysts Set New Price Targets

A number of analysts have recently commented on COST shares. Evercore ISI boosted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Roth Mkm boosted their target price on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Sanford C. Bernstein started coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, January 9th. 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.