GSB Wealth Management LLC Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

GSB Wealth Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,794 shares of the retailer’s stock after selling 138 shares during the period. Costco Wholesale comprises approximately 0.9% of GSB Wealth Management LLC’s portfolio, making the stock its 28th largest position. GSB Wealth Management LLC’s holdings in Costco Wholesale were worth $3,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale in the third quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $33,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $55,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the third quarter valued at about $58,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $939.68 on Friday. The firm’s 50 day moving average is $951.57 and its two-hundred day moving average is $903.72. Costco Wholesale Co. has a fifty-two week low of $675.96 and a fifty-two week high of $1,008.25. 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 company has a market cap of $417.12 billion, a P/E ratio of 55.18, a P/E/G ratio of 5.63 and a beta of 0.84.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Truist Financial increased their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Loop Capital increased their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Barclays increased their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

About Costco Wholesale

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.