Manuka Financial LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Manuka Financial LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 281 shares of the retailer’s stock, valued at approximately $258,000.

Other hedge funds have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $29,000. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale during the 4th quarter worth about $33,000. FSC Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $41,000. Retirement Wealth Solutions LLC bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Costco Wholesale during the third quarter worth about $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets boosted their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley increased their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Roth Mkm raised their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. 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. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, January 9th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Performance

COST opened at $979.88 on Friday. The firm has a market cap of $434.97 billion, a P/E ratio of 57.54, a price-to-earnings-growth ratio of 5.75 and a beta of 0.84. The business’s fifty day moving average is $954.51 and its 200-day moving average is $907.45. Costco Wholesale Co. has a 52-week low of $691.50 and a 52-week high of $1,008.25. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.47%. Costco Wholesale’s dividend payout ratio is 27.25%.

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.