Cove Private Wealth LLC Grows Stake in Costco Wholesale Co. (NASDAQ:COST)

Cove Private Wealth LLC grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 69.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,995 shares of the retailer’s stock after purchasing an additional 815 shares during the quarter. Costco Wholesale makes up approximately 1.1% of Cove Private Wealth LLC’s portfolio, making the stock its 25th largest holding. Cove Private Wealth LLC’s holdings in Costco Wholesale were worth $1,828,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after purchasing an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the period. Hudson Value Partners LLC increased its holdings in shares of Costco Wholesale by 7.6% during the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after buying an additional 568 shares during the last quarter. Nwam LLC purchased a new position in shares of Costco Wholesale in the 3rd quarter worth $20,056,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Costco Wholesale in the fourth quarter valued at $8,430,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COST. BMO Capital Markets raised their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial raised their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Citigroup raised their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, Loop Capital upped 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 research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Insider Buying and Selling

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $943.19 on Tuesday. The firm’s 50-day simple moving average is $949.82 and its 200 day simple moving average is $901.74. The stock has a market cap of $418.68 billion, a P/E ratio of 55.38, a P/E/G ratio of 5.60 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a fifty-two week low of $675.96 and a fifty-two week high of $1,008.25.

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.