Morris Financial Concepts Inc. Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Morris Financial Concepts Inc. boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520 shares of the retailer’s stock after buying an additional 62 shares during the period. Morris Financial Concepts Inc.’s holdings in Costco Wholesale were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new position in Costco Wholesale in the fourth quarter worth $33,000. Collier Financial acquired a new position in shares of Costco Wholesale during the fourth quarter worth $35,000. Barrett & Company Inc. lifted its holdings 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 purchasing an additional 16 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $41,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.1 %

Shares of Costco Wholesale stock opened at $1,076.86 on Friday. The firm has a 50-day simple moving average of $966.02 and a two-hundred day simple moving average of $919.48. 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 Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24. The company has a market cap of $478.02 billion, a P/E ratio of 63.23, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84.

Costco Wholesale Dividend Announcement

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 given a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.43%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

COST has been the subject of a number of research analyst reports. Loop Capital increased their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. DA Davidson upped their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Evercore ISI lifted their target price on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Monday, February 3rd. Finally, Truist Financial raised their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

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.