FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,250 shares of the retailer's stock after selling 495 shares during the quarter. Costco Wholesale comprises approximately 3.2% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's investment portfolio, making the stock its 6th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Costco Wholesale were worth $13,057,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale in the third quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at about $55,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter valued at about $58,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Costco Wholesale during the fourth quarter worth about $58,000. Finally, Christopher J. Hasenberg Inc increased its position in shares of 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 acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.
Insider Buying and Selling at Costco Wholesale
In related news, EVP Richard A. Galanti sold 1,416 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company's stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.
Costco Wholesale Stock Performance
Shares of COST stock traded up $23.44 during trading hours on Friday, reaching $943.19. 2,367,034 shares of the company's stock were exchanged, compared to its average volume of 1,832,091. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company's 50 day moving average is $949.82 and its two-hundred day moving average is $901.47. The company has a market cap 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. Costco Wholesale Co. has a 1 year low of $675.96 and a 1 year high of $1,008.25.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a research note on Friday, December 13th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Oppenheimer reissued an "outperform" rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Barclays increased their target price 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. Finally, Wells Fargo & Company boosted 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 research note on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,013.59.
Check Out Our Latest Analysis on COST
Costco Wholesale Profile
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Free Report)
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.
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