CNB Bank Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

CNB Bank raised its position in Costco Wholesale Co. (NASDAQ:COST) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,983 shares of the retailer’s stock after purchasing an additional 89 shares during the quarter. Costco Wholesale accounts for approximately 1.3% of CNB Bank’s portfolio, making the stock its 18th largest holding. CNB Bank’s holdings in Costco Wholesale were worth $2,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of COST. Procyon Advisors LLC increased its holdings in Costco Wholesale by 10.5% in the 4th quarter. Procyon Advisors LLC now owns 10,097 shares of the retailer’s stock valued at $9,252,000 after purchasing an additional 957 shares in the last quarter. Everpar Advisors LLC grew its stake in shares of Costco Wholesale by 3.0% in the fourth quarter. Everpar Advisors LLC now owns 555 shares of the retailer’s stock valued at $509,000 after buying an additional 16 shares in the last quarter. Tompkins Financial Corp raised its holdings in shares of Costco Wholesale by 2.6% during the 4th quarter. Tompkins Financial Corp now owns 14,856 shares of the retailer’s stock valued at $13,612,000 after buying an additional 378 shares during the period. Yarger Wealth Strategies LLC lifted its position in Costco Wholesale by 3.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 692 shares of the retailer’s stock worth $634,000 after acquiring an additional 20 shares in the last quarter. Finally, RDA Financial Network boosted its holdings in Costco Wholesale by 17.8% in the 4th quarter. RDA Financial Network now owns 4,012 shares of the retailer’s stock worth $3,676,000 after acquiring an additional 607 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $943.19 on Friday. Costco Wholesale Co. has a 1-year low of $675.96 and a 1-year high of $1,008.25. The firm has a market capitalization of $418.68 billion, a PE ratio of 55.38, a P/E/G ratio of 5.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The business’s fifty day moving average price is $949.84 and its two-hundred day moving average price is $900.50.

Insider Buying and Selling

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred on 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 directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on COST shares. Evercore ISI boosted their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Tigress Financial restated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Jefferies Financial Group boosted 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. Finally, Melius Research initiated coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.59.

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.