Channel Wealth LLC Sells 559 Shares of Costco Wholesale Co. (NASDAQ:COST)

Channel Wealth LLC lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,012 shares of the retailer's stock after selling 559 shares during the quarter. Channel Wealth LLC's holdings in Costco Wholesale were worth $2,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the third quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale in the third quarter valued at approximately $58,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Costco Wholesale during the fourth quarter valued at $58,000. Christopher J. Hasenberg Inc grew its holdings in Costco Wholesale by 329.4% during the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer's stock valued at $65,000 after purchasing an additional 56 shares during the period. Finally, VitalStone Financial LLC purchased a new stake in Costco Wholesale in the third quarter worth $71,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Up 2.5 %

Shares of NASDAQ:COST traded up $23.44 on Friday, reaching $943.19. 2,367,034 shares of the company traded hands, compared to its average volume of 1,832,091. Costco Wholesale Co. has a 52 week low of $675.96 and a 52 week high of $1,008.25. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $949.82 and its 200 day simple moving average is $901.17. The stock has a market capitalization of $418.68 billion, a P/E ratio of 55.38, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COST. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a "hold" rating in a research note on Friday, December 13th. UBS Group lifted their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Citigroup lifted their price objective 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, Robert W. Baird increased their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,013.59.

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.