Essex Financial Services Inc. Increases Position in Costco Wholesale Co. (NASDAQ:COST)

Essex Financial Services Inc. lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,582 shares of the retailer’s stock after acquiring an additional 245 shares during the quarter. Essex Financial Services Inc.’s holdings in Costco Wholesale were worth $4,199,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of COST. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the third quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter valued at $33,000. Barrett & Company Inc. lifted its position in shares of Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after buying an additional 16 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $41,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Costco Wholesale during the 4th quarter worth $55,000. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Barclays lifted their price objective on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. TD Cowen boosted their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, DA Davidson raised their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,058.34 on Wednesday. The business’s 50-day moving average price is $963.01 and its 200-day moving average price is $916.76. The firm has a market capitalization of $469.80 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,066.00. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 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.