Paul R. Ried Financial Group LLC Buys Shares of 1,735 Costco Wholesale Co. (NASDAQ:COST)

Paul R. Ried Financial Group LLC bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,735 shares of the retailer’s stock, valued at approximately $1,590,000. Costco Wholesale makes up about 1.1% of Paul R. Ried Financial Group LLC’s portfolio, making the stock its 17th largest holding.

Several other hedge funds also recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale in the third quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale during the 4th quarter worth $33,000. FSC Wealth Advisors LLC bought a new stake in Costco Wholesale during the fourth quarter valued at about $41,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Costco Wholesale in the third quarter worth about $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $1,021.86 on Wednesday. The business has a fifty day moving average of $955.41 and a 200-day moving average of $909.45. The firm has a market cap of $453.60 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84. 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 twelve month low of $697.27 and a twelve month high of $1,024.35.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COST. Jefferies Financial Group raised their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Oppenheimer reissued an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Citigroup upped their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Finally, Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Company 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.