Renaissance Investment Group LLC Sells 458 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Renaissance Investment Group LLC lessened its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,021 shares of the retailer’s stock after selling 458 shares during the period. Costco Wholesale makes up 4.4% of Renaissance Investment Group LLC’s portfolio, making the stock its 2nd biggest position. Renaissance Investment Group LLC’s holdings in Costco Wholesale were worth $21,295,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of COST. GLOBALT Investments LLC GA acquired a new position in Costco Wholesale during the 4th quarter valued at about $2,505,000. Smith Shellnut Wilson LLC ADV increased its stake in Costco Wholesale by 4.4% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 1,191 shares of the retailer’s stock valued at $786,000 after buying an additional 50 shares during the period. American Trust increased its stake in Costco Wholesale by 3.7% during the 4th quarter. American Trust now owns 9,777 shares of the retailer’s stock valued at $6,454,000 after buying an additional 350 shares during the period. Garde Capital Inc. increased its stake in Costco Wholesale by 4.2% during the 4th quarter. Garde Capital Inc. now owns 4,003 shares of the retailer’s stock valued at $2,642,000 after buying an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. increased its stake in Costco Wholesale by 2,725.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 113 shares of the retailer’s stock valued at $74,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,674 shares of company stock worth $5,831,324 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research note on Thursday. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Roth Mkm lifted their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $886.74.

Read Our Latest Stock Report on COST

Costco Wholesale Stock Performance

COST stock opened at $889.03 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The stock has a market cap of $394.14 billion, a P/E ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. The firm has a 50 day simple moving average of $882.80 and a 200 day simple moving average of $827.34. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.86 earnings per share. Research analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

About Costco Wholesale

(Free Report)

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.

See Also

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