Costco Wholesale Co. (NASDAQ:COST) is Cumberland Partners Ltd’s 10th Largest Position

Cumberland Partners Ltd decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,590 shares of the retailer’s stock after selling 142 shares during the period. Costco Wholesale comprises approximately 3.0% of Cumberland Partners Ltd’s investment portfolio, making the stock its 10th largest holding. Cumberland Partners Ltd’s holdings in Costco Wholesale were worth $43,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Costco Wholesale by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock valued at $8,380,648,000 after purchasing an additional 162,191 shares during the period. FMR LLC raised its position in shares of Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Jennison Associates LLC boosted its holdings in Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after buying an additional 125,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Costco Wholesale by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after buying an additional 70,561 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COST. BMO Capital Markets raised their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial lifted their target price on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Robert W. Baird increased their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Evercore ISI boosted their price target on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Citigroup increased their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Price Performance

COST opened at $1,062.54 on Thursday. The stock’s 50-day moving average price is $973.78 and its 200 day moving average price is $928.24. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.23. The firm has a market cap of $471.66 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 6.37 and a beta of 0.84. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.25%.

Costco Wholesale 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.