Paul R. Ried Financial Group LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Paul R. Ried Financial Group LLC acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,735 shares of the retailer’s stock, valued at approximately $1,590,000. Costco Wholesale accounts for about 1.1% of Paul R. Ried Financial Group LLC’s holdings, making the stock its 17th biggest position.

A number of other large investors also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale during the third quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $33,000. FSC Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $41,000. Retirement Wealth Solutions LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $58,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 1.6 %

Costco Wholesale stock opened at $1,021.86 on Wednesday. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,024.35. The firm has a market capitalization of $453.60 billion, a PE ratio of 60.00, a P/E/G ratio of 5.84 and a beta of 0.84. The company’s 50-day moving average is $955.41 and its 200-day moving average is $909.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. Costco Wholesale’s payout ratio is 27.25%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on COST shares. Wells Fargo & Company raised their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. TD Cowen upped their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, Evercore ISI upped their price objective on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

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.