Covea Finance Sells 2,980 Shares of Costco Wholesale Co. (NASDAQ:COST)

Covea Finance decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 50,180 shares of the retailer’s stock after selling 2,980 shares during the period. Costco Wholesale comprises 2.1% of Covea Finance’s portfolio, making the stock its 13th biggest position. Covea Finance’s holdings in Costco Wholesale were worth $45,978,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the third quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Costco Wholesale during the 3rd quarter worth about $58,000. Christopher J. Hasenberg Inc boosted its stake in shares of Costco Wholesale by 329.4% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after buying an additional 56 shares during the last quarter. VitalStone Financial LLC bought a new position in shares of Costco Wholesale in the 3rd quarter valued at about $71,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Costco Wholesale by 20.8% in the third quarter. Iron Horse Wealth Management LLC now owns 87 shares of the retailer’s stock valued at $77,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays raised their price target on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Wells Fargo & Company upped their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Loop Capital boosted their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group raised their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Melius Research started coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Up 0.7 %

Shares of COST opened at $923.50 on Thursday. The firm has a 50 day simple moving average of $949.23 and a two-hundred day simple moving average of $900.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a one year low of $675.96 and a one year high of $1,008.25. The company has a market cap of $409.94 billion, a P/E ratio of 54.23, a P/E/G ratio of 6.02 and a beta of 0.84.

Insider Activity

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 value of $1,266,866.88. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.