Triangle Securities Wealth Management acquired a new position in Costco Wholesale Co. (NASDAQ:COST) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 850 shares of the retailer’s stock, valued at approximately $206,000.
Several other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in Costco Wholesale by 20,897.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock worth $165,000 after purchasing an additional 33,492,419 shares during the last quarter. Bank of New York Mellon Corp grew its position in Costco Wholesale by 55,048.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock worth $1,292,998,000 after purchasing an additional 5,494,946 shares during the last quarter. Norges Bank purchased a new stake in Costco Wholesale during the 4th quarter worth approximately $868,633,000. BlackRock Inc. grew its position in Costco Wholesale by 2.6% during the 4th quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock worth $5,862,398,000 after purchasing an additional 736,711 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its position in Costco Wholesale by 8,622.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 577,135 shares of the retailer’s stock worth $8,898,698,000 after purchasing an additional 570,518 shares during the last quarter. 72.22% of the stock is currently owned by hedge funds and other institutional investors.
COST opened at $245.56 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $247.09. The firm has a market capitalization of $108.36 billion, a P/E ratio of 35.95, a PEG ratio of 3.50 and a beta of 0.95.
Several research firms have weighed in on COST. Oppenheimer boosted their target price on shares of Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nomura lifted their price objective on shares of Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $247.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Telsey Advisory Group restated an “outperform” rating and set a $265.00 price objective (up from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Finally, Citigroup lifted their price objective on shares of Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $248.00.
In other news, Director John W. Meisenbach bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was purchased at an average cost of $242.65 per share, for a total transaction of $727,950.00. Following the purchase, the director now directly owns 12,833 shares in the company, valued at approximately $3,113,927.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Richard A. Galanti sold 4,188 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total transaction of $965,208.36. Following the completion of the transaction, the vice president now owns 30,082 shares of the company’s stock, valued at $6,932,998.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,587 shares of company stock valued at $2,004,576. Company insiders own 0.21% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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