Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,109 shares of the retailer’s stock after selling 8,275 shares during the quarter. Costco Wholesale comprises approximately 1.0% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 20th largest position. Gateway Investment Advisers LLC’s holdings in Costco Wholesale were worth $88,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Renaissance Technologies LLC acquired a new position in Costco Wholesale during the second quarter worth about $4,202,000. Beck Bode LLC lifted its stake in Costco Wholesale by 1.7% in the 2nd quarter. Beck Bode LLC now owns 15,957 shares of the retailer’s stock worth $13,563,000 after purchasing an additional 260 shares in the last quarter. ProVise Management Group LLC acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $250,000. Brighton Jones LLC grew its position in shares of Costco Wholesale by 1.9% in the second quarter. Brighton Jones LLC now owns 18,950 shares of the retailer’s stock valued at $16,107,000 after purchasing an additional 346 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Costco Wholesale by 5.2% in the second quarter. Ieq Capital LLC now owns 63,897 shares of the retailer’s stock valued at $54,312,000 after purchasing an additional 3,179 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Loop Capital upped their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. Evercore ISI upped their price objective on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. TD Cowen increased their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Insider Buying and Selling

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $943.19 on Friday. The business’s 50-day moving average is $949.84 and its two-hundred day moving average is $900.50. 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 firm has a market capitalization of $418.68 billion, a P/E ratio of 55.38, a P/E/G ratio of 5.60 and a beta of 0.84. Costco Wholesale Co. has a 1 year low of $675.96 and a 1 year high of $1,008.25.

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.