Floyd Financial Group LLC Makes New $589,000 Investment in Costco Wholesale Co. (NASDAQ:COST)

Floyd Financial Group LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 629 shares of the retailer’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the period. Hudson Value Partners LLC grew its stake in shares of Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after buying an additional 568 shares during the period. Nwam LLC bought a new stake in Costco Wholesale in the 3rd quarter valued at about $20,056,000. Finally, GAMMA Investing LLC raised its stake in Costco Wholesale by 15.0% during the 4th quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after buying an additional 1,001 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

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 shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Evercore ISI boosted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup lifted their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Robert W. Baird lifted their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $923.50 on Thursday. The business’s 50 day simple moving average is $949.23 and its 200 day simple moving average is $900.20. Costco Wholesale Co. has a 12 month low of $675.96 and a 12 month high of $1,008.25. The company has a market cap of $409.94 billion, a price-to-earnings ratio of 54.23, a PEG ratio of 6.02 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

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.