Grant GrossMendelsohn LLC Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Grant GrossMendelsohn LLC reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 42.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 967 shares of the retailer’s stock after selling 713 shares during the period. Grant GrossMendelsohn LLC’s holdings in Costco Wholesale were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Costco Wholesale in the second quarter worth about $4,202,000. Beck Bode LLC increased 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 valued at $13,563,000 after acquiring an additional 260 shares in the last quarter. ProVise Management Group LLC purchased a new position in Costco Wholesale in the 2nd quarter worth approximately $250,000. ASB Consultores LLC bought a new position in Costco Wholesale in the 2nd quarter valued at approximately $292,000. Finally, AE Wealth Management LLC boosted its stake in Costco Wholesale by 25.6% during the 2nd quarter. AE Wealth Management LLC now owns 22,102 shares of the retailer’s stock valued at $18,786,000 after purchasing an additional 4,505 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $943.19 on Friday. The firm has a market cap of $418.68 billion, a PE ratio of 55.38, a PEG ratio of 5.60 and a beta of 0.84. The stock has a 50 day moving average of $949.82 and a 200 day moving average of $901.17. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12 month low of $675.96 and a 12 month high of $1,008.25.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research analyst reports. Raymond James upped their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Melius Research initiated coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 target price on the stock. Morgan Stanley lifted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

Insider Transactions at Costco Wholesale

In related 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 transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.