Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,595 shares of the retailer’s stock after selling 299 shares during the quarter. Costco Wholesale comprises about 2.4% of Mechanics Bank Trust Department’s portfolio, making the stock its 6th biggest holding. Mechanics Bank Trust Department’s holdings in Costco Wholesale were worth $17,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of COST. Renaissance Technologies LLC purchased a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $4,202,000. Beck Bode LLC boosted its position in shares of Costco Wholesale by 1.7% during the second quarter. Beck Bode LLC now owns 15,957 shares of the retailer’s stock worth $13,563,000 after buying an additional 260 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Costco Wholesale by 11.3% in the second quarter. Thrivent Financial for Lutherans now owns 64,820 shares of the retailer’s stock valued at $55,096,000 after buying an additional 6,587 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Costco Wholesale by 13.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,356 shares of the retailer’s stock valued at $1,153,000 after buying an additional 156 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its stake in Costco Wholesale by 3.8% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,109 shares of the retailer’s stock worth $943,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 2.5 %

COST stock opened at $943.19 on Tuesday. The company has a market cap of $418.68 billion, a price-to-earnings ratio of 55.38, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84. The company has a fifty day moving average price of $949.82 and a 200 day moving average price of $901.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale Co. has a 12 month low of $675.96 and a 12 month high of $1,008.25.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Tigress Financial reiterated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research note on Thursday, October 17th. Loop Capital upped their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. BMO Capital Markets upped their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

Insider Activity

In other 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 transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. The trade was 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. 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.