Joel Adams & Associates Inc. Buys New Position in Costco Wholesale Co. (NASDAQ:COST)

Joel Adams & Associates Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 326 shares of the retailer’s stock, valued at approximately $299,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale in the third quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale in the fourth quarter worth approximately $33,000. Collier Financial bought a new position in Costco Wholesale in the fourth quarter worth approximately $35,000. Barrett & Company Inc. boosted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after acquiring an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Costco Wholesale in the fourth quarter worth approximately $41,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $1,056.03 on Wednesday. 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 business has a fifty day simple moving average of $972.43 and a two-hundred day simple moving average of $927.29. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.23. The company has a market capitalization of $468.77 billion, a P/E ratio of 62.01, a P/E/G ratio of 6.37 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 given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent research reports. Evercore ISI increased their price target on Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. TD Cowen raised their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. DA Davidson raised their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.