Beach Investment Counsel Inc. PA Sells 2,038 Shares of Costco Wholesale Co. (NASDAQ:COST)

Beach Investment Counsel Inc. PA trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 63.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,167 shares of the retailer’s stock after selling 2,038 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Costco Wholesale were worth $1,069,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the third quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new position in Costco Wholesale in the fourth quarter worth about $33,000. FSC Wealth Advisors LLC purchased a new position in Costco Wholesale in the fourth quarter worth about $41,000. Retirement Wealth Solutions LLC purchased a new position in Costco Wholesale in the fourth quarter worth about $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale in the third quarter worth about $58,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,042.88 on Thursday. The company has a market cap of $462.93 billion, a P/E ratio of 61.24, a P/E/G ratio of 5.84 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. The business’s 50 day moving average price is $956.42 and its 200-day moving average price is $910.75. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,043.09.

Costco Wholesale Dividend Announcement

The firm 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. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on COST shares. Stifel Nicolaus raised their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective on the stock. UBS Group lifted their price objective on Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Evercore ISI lifted their target price on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

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.