Bank of New York Mellon Corp Trims Position in Costco Wholesale Co. (NASDAQ:COST)

Bank of New York Mellon Corp reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 4,332,833 shares of the retailer’s stock after selling 144,974 shares during the period. Costco Wholesale makes up about 0.7% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 18th biggest position. Bank of New York Mellon Corp’s holdings in Costco Wholesale were worth $3,970,045,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after acquiring an additional 162,191 shares during the last quarter. FMR LLC raised its stake in Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the period. Jennison Associates LLC raised its stake in Costco Wholesale by 3.8% during the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after purchasing an additional 125,444 shares during the period. 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 purchasing an additional 70,561 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Costco Wholesale by 2.7% during 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 during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COST has been the topic of several research reports. DA Davidson increased their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. UBS Group boosted their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial raised their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. Finally, TD Cowen boosted their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $1,035.60 on Tuesday. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,078.23. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The stock has a market cap of $459.70 billion, a P/E ratio of 60.81, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The stock has a 50 day moving average of $976.47 and a 200-day moving average of $933.62.

Costco Wholesale Dividend Announcement

The business also recently disclosed 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. This represents a $4.64 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.25%.

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.