Illumine Investment Management LLC Invests $3.98 Million in Costco Wholesale Co. (NASDAQ:COST)

Illumine Investment Management LLC purchased a new position in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,338 shares of the retailer’s stock, valued at approximately $3,975,000. Costco Wholesale accounts for 3.3% of Illumine Investment Management LLC’s holdings, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings 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 buying an additional 162,191 shares during the period. FMR LLC grew its stake in Costco Wholesale by 3.6% in 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 in the last quarter. Jennison Associates LLC grew its stake in Costco Wholesale by 3.8% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Costco Wholesale by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock worth $2,726,107,000 after purchasing an additional 70,561 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Costco Wholesale by 2.7% in the third quarter. Fisher Asset Management LLC now owns 3,034,491 shares of the retailer’s stock worth $2,690,138,000 after purchasing an additional 78,590 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,021.71 on Friday. The stock has a 50-day simple moving average of $980.62 and a two-hundred day simple moving average of $936.31. The firm has a market capitalization of $453.54 billion, a P/E ratio of 59.99, a PEG ratio of 6.15 and a beta of 0.84. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.23. 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Wall Street Analysts Forecast Growth

COST has been the topic of several research analyst reports. Telsey Advisory Group reissued an “outperform” rating on shares of Costco Wholesale in a research note on Friday, February 14th. Citigroup increased their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Morgan Stanley increased their price objective on 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 objective on 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. Finally, Truist Financial increased their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target 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.