Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 640 shares of the retailer’s stock after selling 39 shares during the quarter. Chesapeake Wealth Management’s holdings in Costco Wholesale were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COST. Renaissance Technologies LLC acquired a new stake in Costco Wholesale during the 2nd quarter worth approximately $4,202,000. Beck Bode LLC raised its stake 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 worth $13,563,000 after purchasing an additional 260 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Costco Wholesale by 13.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,356 shares of the retailer’s stock worth $1,153,000 after purchasing an additional 156 shares during the period. Mill Creek Capital Advisors LLC grew its position in Costco Wholesale by 12.4% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,642 shares of the retailer’s stock valued at $2,246,000 after buying an additional 291 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in Costco Wholesale by 16.8% in the 2nd quarter. Wulff Hansen & CO. now owns 1,735 shares of the retailer’s stock valued at $1,475,000 after buying an additional 250 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. DA Davidson lifted their price objective on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Loop Capital upped their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Raymond James raised their target price on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was 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 directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ:COST opened at $947.73 on Wednesday. Costco Wholesale Co. has a 12-month low of $675.96 and a 12-month high of $1,008.25. The firm has a market cap of $420.70 billion, a price-to-earnings ratio of 55.65, a price-to-earnings-growth ratio of 5.63 and a beta of 0.84. The company’s 50-day moving average is $950.03 and its two-hundred day moving average is $902.31. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

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.