Ring Mountain Capital LLC Buys New Position in Costco Wholesale Co. (NASDAQ:COST)

Ring Mountain Capital LLC bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, Holdings Channel reports. The institutional investor bought 360 shares of the retailer’s stock, valued at approximately $330,000.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after buying an additional 32,074 shares in the last quarter. Hudson Value Partners LLC raised its stake in shares of Costco Wholesale by 7.6% in the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the last quarter. Nwam LLC purchased a new position in shares of Costco Wholesale in the third quarter worth about $20,056,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Costco Wholesale in the fourth quarter worth about $8,430,000. Finally, GAMMA Investing LLC raised its stake in shares of Costco Wholesale by 15.0% in the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $1,046.85 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The business’s 50 day moving average price is $984.45 and its 200-day moving average price is $939.83. The firm has a market capitalization of $464.70 billion, a PE ratio of 61.47, a P/E/G ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid 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 was Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective 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. DA Davidson raised their price objective on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Barclays raised their price objective on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Truist Financial raised their price objective on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus lifted their price target on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target 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.