Retirement Systems of Alabama Decreases Position in Costco Wholesale Co. (NASDAQ:COST)

Retirement Systems of Alabama trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,350 shares of the retailer’s stock after selling 6,461 shares during the period. Retirement Systems of Alabama’s holdings in Costco Wholesale were worth $127,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COST. Charles Schwab Investment Management Inc. increased its position in Costco Wholesale by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after acquiring an additional 32,074 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares during the last quarter. Hudson Value Partners LLC raised its position in Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the period. Nwam LLC bought a new stake in Costco Wholesale in the third quarter worth about $20,056,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $8,430,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $1,042.88 on Thursday. The company has a 50 day moving average of $956.42 and a two-hundred day moving average of $910.75. The company has a market cap of $462.93 billion, a price-to-earnings ratio of 61.24, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,043.09.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.44%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Analyst Ratings Changes

COST has been the topic of several recent analyst reports. DA Davidson increased their price target on Costco Wholesale from $880.00 to $900.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Evercore ISI boosted their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Truist Financial raised their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Finally, Raymond James boosted their price objective on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target 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.