Prasad Wealth Partners LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Prasad Wealth Partners LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, Holdings Channel reports. The firm purchased 536 shares of the retailer’s stock, valued at approximately $491,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Costco Wholesale by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock valued at $8,380,648,000 after buying an additional 162,191 shares in the last quarter. FMR LLC boosted its holdings in shares of Costco Wholesale by 3.6% in the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after buying an additional 324,973 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after buying an additional 125,444 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Costco Wholesale by 2.3% in 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 valued at $2,726,107,000 after buying an additional 70,561 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Costco Wholesale by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,034,491 shares of the retailer’s stock valued at $2,690,138,000 after buying an additional 78,590 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $1,035.60 on Tuesday. The company has a 50-day simple moving average of $976.47 and a 200-day simple moving average of $933.62. 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 company has a market capitalization of $459.70 billion, a PE ratio of 60.81, a P/E/G ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued 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 yield of 0.45%. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COST. Morgan Stanley increased their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Loop Capital increased their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets increased their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group increased their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company 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.