Pines Wealth Management LLC Buys New Position in Costco Wholesale Co. (NASDAQ:COST)

Pines Wealth Management LLC purchased a new position in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,918 shares of the retailer’s stock, valued at approximately $1,797,000. Costco Wholesale accounts for 0.8% of Pines Wealth Management LLC’s portfolio, making the stock its 29th biggest holding.

Several other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale in the third quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $58,000. Christopher J. Hasenberg Inc raised its position in shares of Costco Wholesale by 329.4% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock valued at $65,000 after purchasing an additional 56 shares in the last quarter. VitalStone Financial LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at approximately $71,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Costco Wholesale by 20.8% during the third quarter. Iron Horse Wealth Management LLC now owns 87 shares of the retailer’s stock worth $77,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $923.50 on Thursday. Costco Wholesale Co. has a 52-week low of $675.96 and a 52-week high of $1,008.25. The firm has a market capitalization of $409.94 billion, a PE ratio of 54.23, a P/E/G ratio of 6.02 and a beta of 0.84. The firm has a 50-day moving average price of $949.23 and a 200 day moving average price of $900.20. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Truist Financial increased their target price on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Finally, StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Company 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.