Costco Wholesale Co. (NASDAQ:COST) Position Reduced by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,166 shares of the retailer’s stock after selling 77 shares during the quarter. Costco Wholesale accounts for approximately 2.4% of Cerro Pacific Wealth Advisors LLC’s holdings, making the stock its 8th biggest holding. Cerro Pacific Wealth Advisors LLC’s holdings in Costco Wholesale were worth $7,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale during the third quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale during the fourth quarter valued at $33,000. Retirement Wealth Solutions LLC purchased a new stake in Costco Wholesale during the 4th quarter worth about $55,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale in the 3rd quarter valued at about $58,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Down 0.3 %

COST opened at $939.68 on Friday. The firm has a market capitalization of $417.12 billion, a P/E ratio of 55.18, a P/E/G ratio of 5.63 and a beta of 0.84. The firm’s 50 day moving average is $950.92 and its 200-day moving average is $903.31. 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 52-week low of $675.96 and a 52-week high of $1,008.25.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 dividend on an annualized basis and a yield of 0.49%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on COST shares. 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. Morgan Stanley increased their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets lifted their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $1,013.59.

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.