Sumitomo Mitsui Trust Group Inc. Increases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,056,933 shares of the retailer’s stock after buying an additional 660 shares during the quarter. Costco Wholesale comprises about 0.7% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 21st biggest holding. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Costco Wholesale worth $968,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Telligent Fund LP bought a new stake in shares of Costco Wholesale in the 4th quarter worth $4,123,000. RNC Capital Management LLC increased its holdings in shares of Costco Wholesale by 6.2% in the 4th quarter. RNC Capital Management LLC now owns 3,265 shares of the retailer’s stock worth $2,992,000 after purchasing an additional 192 shares in the last quarter. Tandem Financial LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth $202,000. Strategic Financial Concepts LLC increased its holdings in shares of Costco Wholesale by 100,422.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after purchasing an additional 795,345 shares in the last quarter. Finally, Consolidated Portfolio Review Corp increased its holdings in shares of Costco Wholesale by 406.5% in the 4th quarter. Consolidated Portfolio Review Corp now owns 3,211 shares of the retailer’s stock worth $2,943,000 after purchasing an additional 2,577 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,043.81 on Friday. The stock’s 50-day simple moving average is $959.83 and its 200-day simple moving average is $912.64. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,063.00. The company has a market capitalization of $463.35 billion, a price-to-earnings ratio of 61.29, a PEG 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 Announces Dividend

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 given a $1.16 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group lifted their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Loop Capital lifted their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. BMO Capital Markets lifted their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock 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 an average 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.