Parsons Capital Management Inc. RI Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Parsons Capital Management Inc. RI lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,569 shares of the retailer’s stock after selling 38 shares during the period. Parsons Capital Management Inc. RI’s holdings in Costco Wholesale were worth $8,768,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp grew its position in Costco Wholesale by 1.1% during the second quarter. Truist Financial Corp now owns 316,993 shares of the retailer’s stock valued at $269,441,000 after buying an additional 3,526 shares during the period. IMS Capital Management boosted its stake in Costco Wholesale by 7.1% in the second quarter. IMS Capital Management now owns 3,794 shares of the retailer’s stock valued at $3,324,000 after acquiring an additional 252 shares during the last quarter. Ted Buchan & Co purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $2,677,000. 3Chopt Investment Partners LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter worth approximately $446,000. Finally, Aldebaran Financial Inc. purchased a new position in Costco Wholesale in the second quarter valued at approximately $212,000. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on COST shares. Jefferies Financial Group raised their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. TD Cowen lifted their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group upped their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lifted their target price on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Thursday, January 9th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Stock Down 0.7 %

COST opened at $958.67 on Wednesday. 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’s fifty day simple moving average is $952.49 and its 200 day simple moving average is $904.81. Costco Wholesale Co. has a 52 week low of $686.26 and a 52 week high of $1,008.25. The stock has a market cap of $425.55 billion, a PE ratio of 56.29, a P/E/G ratio of 5.63 and a beta of 0.84.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is 27.25%.

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.