Renaissance Investment Group LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Renaissance Investment Group LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,021 shares of the retailer’s stock after selling 458 shares during the quarter. Costco Wholesale makes up approximately 4.4% of Renaissance Investment Group LLC’s portfolio, making the stock its 2nd largest holding. Renaissance Investment Group LLC’s holdings in Costco Wholesale were worth $21,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of COST. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale during the first quarter worth $32,000. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co bought a new position in Costco Wholesale during the second quarter worth $48,000. Ruedi Wealth Management Inc. increased its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. Finally, Summit Securities Group LLC bought a new position in Costco Wholesale during the second quarter worth $50,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST stock opened at $889.03 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The company has a 50 day moving average price of $882.80 and a 200 day moving average price of $827.34. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The stock has a market capitalization of $394.14 billion, a PE ratio of 55.08, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the company posted $4.86 EPS. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. Analysts forecast that Costco Wholesale Co. will post 17.73 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the transaction, the insider now owns 10,992 shares in the company, valued at $9,327,041.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the sale, the insider now owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. 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 in the last quarter. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets reiterated an “outperform” rating and set a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Roth Mkm lifted their price target 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, DA Davidson reiterated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $886.74.

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.