Covea Finance Has $45.98 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Covea Finance reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,180 shares of the retailer’s stock after selling 2,980 shares during the quarter. Costco Wholesale accounts for 2.1% of Covea Finance’s portfolio, making the stock its 13th largest position. Covea Finance’s holdings in Costco Wholesale were worth $45,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale during the 3rd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter worth $58,000. Christopher J. Hasenberg Inc boosted its stake in Costco Wholesale by 329.4% in the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after purchasing an additional 56 shares in the last quarter. VitalStone Financial LLC bought a new stake in shares of Costco Wholesale during the third quarter worth $71,000. Finally, Iron Horse Wealth Management LLC increased its stake 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 buying an additional 15 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of several research reports. DA Davidson upped their price target on shares of Costco Wholesale from $880.00 to $900.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. UBS Group increased their price target on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Barclays increased their price objective on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Sanford C. Bernstein initiated coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $923.50 on Thursday. The stock’s fifty day simple moving average is $949.23 and its 200 day simple moving average is $900.20. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $409.94 billion, a PE ratio of 54.23, a PEG ratio of 6.02 and a beta of 0.84. Costco Wholesale Co. has a 12 month low of $675.96 and a 12 month high of $1,008.25.

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.