Covea Finance Sells 18,652 Shares of Costco Wholesale Co. (NASDAQ:COST)

Covea Finance trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 26.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,160 shares of the retailer’s stock after selling 18,652 shares during the period. Costco Wholesale comprises approximately 2.1% of Covea Finance’s investment portfolio, making the stock its 15th largest holding. Covea Finance’s holdings in Costco Wholesale were worth $47,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wulff Hansen & CO. increased its stake in shares of Costco Wholesale by 99,208.6% in the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after purchasing an additional 1,473,248 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Costco Wholesale in the first quarter worth $510,353,000. Assenagon Asset Management S.A. raised its stake in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after purchasing an additional 620,341 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after purchasing an additional 485,051 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,674 shares of company stock valued at $5,831,324 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COST. DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a report on Thursday. TD Cowen raised their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Oppenheimer upped their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Finally, Melius Research started coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $886.74.

Costco Wholesale Stock Down 0.5 %

Shares of NASDAQ:COST traded down $4.60 during trading on Friday, hitting $889.03. The stock had a trading volume of 1,527,294 shares, compared to its average volume of 1,956,339. The company has a market capitalization of $394.14 billion, a PE ratio of 55.08, a PEG ratio of 5.53 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $882.80 and its 200 day moving average is $826.67. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for 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 quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.86 EPS. Analysts anticipate that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

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.