Sovereign Financial Group Inc. Acquires 12 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sovereign Financial Group Inc. lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,715 shares of the retailer’s stock after purchasing an additional 12 shares during the period. Sovereign Financial Group Inc.’s holdings in Costco Wholesale were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in COST. Safeguard Financial LLC grew its stake in Costco Wholesale by 15.4% in the 4th quarter. Safeguard Financial LLC now owns 967 shares of the retailer’s stock worth $886,000 after acquiring an additional 129 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of Costco Wholesale by 12.1% in the fourth quarter. Fiduciary Financial Group LLC now owns 314 shares of the retailer’s stock valued at $294,000 after purchasing an additional 34 shares during the period. Quantum Financial Advisors LLC grew its stake in Costco Wholesale by 8.8% in the fourth quarter. Quantum Financial Advisors LLC now owns 1,299 shares of the retailer’s stock worth $1,191,000 after purchasing an additional 105 shares in the last quarter. Cardinal Point Capital Management ULC increased its holdings in Costco Wholesale by 27.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 338 shares of the retailer’s stock worth $310,000 after purchasing an additional 73 shares during the period. Finally, Wallace Advisory Group LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $224,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen increased their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Truist Financial raised their target price on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Roth Mkm boosted their price target on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley increased their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were 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 represents a 4.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $917.23 on Wednesday. The company has a market cap of $407.16 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 6.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock’s fifty day moving average price is $949.23 and its 200 day moving average price is $900.20. Costco Wholesale Co. has a 1 year low of $675.96 and a 1 year high of $1,008.25.

Costco Wholesale Company 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.