Sovereign Financial Group Inc. Acquires 12 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sovereign Financial Group Inc. boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,715 shares of the retailer’s stock after buying an additional 12 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Costco Wholesale were worth $1,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Costco Wholesale in the second quarter worth about $4,202,000. Wulff Hansen & CO. increased its holdings in Costco Wholesale by 99,208.6% in the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after acquiring an additional 1,473,248 shares in the last quarter. WealthPLAN Partners LLC raised its stake in Costco Wholesale by 3.8% during the 2nd quarter. WealthPLAN Partners LLC now owns 15,269 shares of the retailer’s stock worth $12,979,000 after acquiring an additional 558 shares during the period. Luts & Greenleigh Group Inc. purchased a new position in Costco Wholesale during the second quarter valued at approximately $9,043,000. Finally, Moors & Cabot Inc. boosted its position in shares of Costco Wholesale by 12.3% in the second quarter. Moors & Cabot Inc. now owns 10,236 shares of the retailer’s stock worth $8,701,000 after purchasing an additional 1,122 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Tigress Financial restated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. TD Cowen raised their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Evercore ISI lifted their target price on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Nine research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $1,013.59.

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $917.23 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The stock’s fifty day moving average is $949.23 and its 200 day moving average is $900.20. The firm has a market capitalization of $407.16 billion, a PE ratio of 53.86, a PEG ratio of 6.02 and a beta of 0.84. Costco Wholesale Co. has a fifty-two week low of $675.96 and a fifty-two week high of $1,008.25.

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.