Ignite Planners LLC Grows Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Ignite Planners LLC increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,700 shares of the retailer’s stock after purchasing an additional 443 shares during the quarter. Costco Wholesale accounts for 0.7% of Ignite Planners LLC’s portfolio, making the stock its 25th largest position. Ignite Planners LLC’s holdings in Costco Wholesale were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of Costco Wholesale by 18.0% during the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock valued at $3,941,708,000 after purchasing an additional 1,315,174 shares during the last quarter. Geode Capital Management LLC grew its position in Costco Wholesale by 1.4% during the first quarter. Geode Capital Management LLC now owns 8,210,385 shares of the retailer’s stock valued at $4,069,186,000 after buying an additional 111,505 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Costco Wholesale by 118,320.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock valued at $3,376,513,000 after buying an additional 7,390,278 shares during the last quarter. Bank of New York Mellon Corp raised its position in Costco Wholesale by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 5,595,523 shares of the retailer’s stock worth $2,780,247,000 after acquiring an additional 535,776 shares during the period. Finally, Norges Bank purchased a new position in shares of Costco Wholesale during the 4th quarter worth $2,328,844,000. Institutional investors own 66.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COST. Truist Financial raised their target price on Costco Wholesale from $567.00 to $597.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. UBS Group lifted their price objective on Costco Wholesale from $560.00 to $640.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Robert W. Baird boosted their price objective on Costco Wholesale from $535.00 to $550.00 in a research note on Friday, July 7th. Loop Capital raised their target price on shares of Costco Wholesale from $545.00 to $570.00 in a research note on Friday, June 2nd. Finally, Wells Fargo & Company upped their price target on shares of Costco Wholesale from $475.00 to $510.00 in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $566.63.

Costco Wholesale Trading Up 1.1 %

Shares of COST opened at $562.72 on Tuesday. Costco Wholesale Co. has a fifty-two week low of $447.90 and a fifty-two week high of $571.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.08. The company’s fifty day moving average is $551.21 and its 200 day moving average is $519.89. The stock has a market capitalization of $249.34 billion, a PE ratio of 41.68, a P/E/G ratio of 4.11 and a beta of 0.79.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 24th. Costco Wholesale’s dividend payout ratio is 30.22%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total transaction of $834,145.00. Following the sale, the director now directly owns 13,329 shares of the company’s stock, valued at $7,104,357. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by insiders.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.