Morris Financial Concepts Inc. Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Morris Financial Concepts Inc. lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 520 shares of the retailer’s stock after purchasing an additional 62 shares during the period. Morris Financial Concepts Inc.’s holdings in Costco Wholesale were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MTM Investment Management LLC raised its stake in Costco Wholesale by 0.6% in the 4th quarter. MTM Investment Management LLC now owns 4,097 shares of the retailer’s stock valued at $3,754,000 after purchasing an additional 23 shares during the last quarter. PrairieView Partners LLC grew its holdings in shares of Costco Wholesale by 3.4% during the fourth quarter. PrairieView Partners LLC now owns 997 shares of the retailer’s stock worth $913,000 after buying an additional 33 shares in the last quarter. Hemington Wealth Management raised its position in shares of Costco Wholesale by 3.5% in the fourth quarter. Hemington Wealth Management now owns 1,098 shares of the retailer’s stock valued at $1,006,000 after buying an additional 37 shares during the last quarter. Park Capital Management LLC WI purchased a new position in shares of Costco Wholesale in the fourth quarter worth about $224,000. Finally, Ingalls & Snyder LLC boosted its position in Costco Wholesale by 14.9% during the fourth quarter. Ingalls & Snyder LLC now owns 1,963 shares of the retailer’s stock worth $1,799,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.1 %

Shares of COST opened at $1,076.86 on Friday. The company’s 50-day simple moving average is $966.02 and its 200-day simple moving average is $919.48. 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 1 year low of $697.27 and a 1 year high of $1,078.24. The stock has a market capitalization of $478.02 billion, a PE ratio of 63.23, a P/E/G ratio of 6.26 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. Investors of record on Friday, February 7th will be issued a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.43%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Loop Capital increased their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. UBS Group boosted their price objective 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, February 3rd. Finally, Tigress Financial reissued a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.