Legacy Trust Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Legacy Trust decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,399 shares of the retailer’s stock after selling 58 shares during the period. Costco Wholesale makes up 2.0% of Legacy Trust’s portfolio, making the stock its 15th biggest position. Legacy Trust’s holdings in Costco Wholesale were worth $8,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. AMF Tjanstepension AB acquired a new position in Costco Wholesale in the 3rd quarter worth $42,896,000. Czech National Bank lifted its stake in shares of Costco Wholesale by 6.9% in the third quarter. Czech National Bank now owns 90,312 shares of the retailer’s stock worth $80,063,000 after acquiring an additional 5,799 shares in the last quarter. Unique Wealth LLC boosted its holdings in Costco Wholesale by 12.0% in the third quarter. Unique Wealth LLC now owns 756 shares of the retailer’s stock valued at $671,000 after purchasing an additional 81 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its stake in Costco Wholesale by 4.1% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 1,898 shares of the retailer’s stock valued at $1,683,000 after purchasing an additional 74 shares in the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $283,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COST. Roth Mkm increased their target price on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Citigroup raised their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, TD Cowen boosted their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Price Performance

NASDAQ COST opened at $979.88 on Friday. Costco Wholesale Co. has a 12 month low of $691.50 and a 12 month high of $1,008.25. The firm has a market capitalization of $434.97 billion, a PE ratio of 57.54, a P/E/G ratio of 5.75 and a beta of 0.84. The company’s 50 day simple moving average is $954.19 and its 200 day simple moving average is $906.54. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

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.