CIBC Asset Management Inc Sells 23,655 Shares of Costco Wholesale Co. (NASDAQ:COST)

CIBC Asset Management Inc cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 161,401 shares of the retailer’s stock after selling 23,655 shares during the period. CIBC Asset Management Inc’s holdings in Costco Wholesale were worth $147,852,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Highview Capital Management LLC DE increased its holdings in shares of Costco Wholesale by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer’s stock worth $4,410,000 after buying an additional 40 shares during the period. Woodard & Co. Asset Management Group Inc. ADV increased its stake in Costco Wholesale by 1.7% in the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,221 shares of the retailer’s stock worth $2,035,000 after purchasing an additional 38 shares during the period. Retirement Income Solutions Inc lifted its position in Costco Wholesale by 3.5% in the fourth quarter. Retirement Income Solutions Inc now owns 380 shares of the retailer’s stock valued at $348,000 after purchasing an additional 13 shares during the last quarter. Total Investment Management Inc. boosted its stake in shares of Costco Wholesale by 37.2% during the fourth quarter. Total Investment Management Inc. now owns 328 shares of the retailer’s stock valued at $300,000 after purchasing an additional 89 shares during the period. Finally, Americana Partners LLC grew its holdings in shares of Costco Wholesale by 15.6% in the fourth quarter. Americana Partners LLC now owns 14,101 shares of the retailer’s stock worth $12,921,000 after purchasing an additional 1,906 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of COST opened at $1,071.85 on Tuesday. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.23. The firm’s 50-day simple moving average is $969.49 and its two-hundred day simple moving average is $923.85. The stock has a market cap of $475.79 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Loop Capital upped their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup boosted their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. DA Davidson increased their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. UBS Group raised their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets upped their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.