State of Michigan Retirement System Has $160.41 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

State of Michigan Retirement System reduced its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,069 shares of the retailer’s stock after selling 2,600 shares during the period. Costco Wholesale makes up about 0.8% of State of Michigan Retirement System’s investment portfolio, making the stock its 19th biggest position. State of Michigan Retirement System’s holdings in Costco Wholesale were worth $160,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its holdings in Costco Wholesale by 1.5% in the third quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after purchasing an additional 6,495 shares during the period. Van ECK Associates Corp increased its position in shares of Costco Wholesale by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 123,292 shares of the retailer’s stock valued at $110,861,000 after buying an additional 9,447 shares in the last quarter. Lansing Street Advisors increased its position in shares of Costco Wholesale by 31.4% in the 3rd quarter. Lansing Street Advisors now owns 339 shares of the retailer’s stock valued at $300,000 after buying an additional 81 shares in the last quarter. Kanawha Capital Management LLC raised its stake in Costco Wholesale by 2.2% during the 3rd quarter. Kanawha Capital Management LLC now owns 16,044 shares of the retailer’s stock worth $14,223,000 after buying an additional 345 shares during the period. Finally, Roman Butler Fullerton & Co. lifted its holdings in Costco Wholesale by 3.2% during the third quarter. Roman Butler Fullerton & Co. now owns 2,930 shares of the retailer’s stock worth $2,621,000 after acquiring an additional 91 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Down 0.2 %

COST stock opened at $1,046.85 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $984.45 and a two-hundred day moving average price of $939.83. The company has a market cap of $464.70 billion, a price-to-earnings ratio of 61.47, a P/E/G ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.24.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.44%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COST. UBS Group raised their price target on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and set a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Truist Financial raised their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, Morgan Stanley raised their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.