Kentucky Retirement Systems Insurance Trust Fund Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,473 shares of the retailer’s stock after buying an additional 2,347 shares during the quarter. Costco Wholesale comprises 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 12th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Costco Wholesale were worth $14,177,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale in the 3rd quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $33,000. Collier Financial purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $35,000. Barrett & Company Inc. lifted its stake in Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $41,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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. Roth Mkm increased their price target on shares of Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. UBS Group increased their price target on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company increased their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,056.03 on Wednesday. The firm has a market cap of $468.77 billion, a PE ratio of 62.01, a price-to-earnings-growth ratio of 6.37 and a beta of 0.84. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.23. 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’s fifty day simple moving average is $972.43 and its two-hundred day simple moving average is $927.29.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.16 dividend. 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 dividend payout ratio (DPR) is presently 27.25%.

Costco Wholesale Company 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.