Channel Wealth LLC Has $2.76 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Channel Wealth LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.7% during the 4th quarter, Holdings Channel reports. 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.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Costco Wholesale by 1.2% in the 3rd 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 last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Costco Wholesale by 62.8% in the third 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 boosted its stake in Costco Wholesale by 7.6% in the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after acquiring an additional 568 shares during the last quarter. Nwam LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth $20,056,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $8,430,000. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on COST shares. Robert W. Baird raised their price target 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. Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Tigress Financial reaffirmed a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein started coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $943.19 on Friday. Costco Wholesale Co. has a one year low of $675.96 and a one year high of $1,008.25. 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 firm has a market cap of $418.68 billion, a price-to-earnings ratio of 55.38, a P/E/G ratio of 5.60 and a beta of 0.84. The stock’s fifty day moving average price is $949.84 and its two-hundred day moving average price is $900.50.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’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 completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

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.