Arbor Trust Wealth Advisors LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Arbor Trust Wealth Advisors LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,234 shares of the retailer’s stock after selling 51 shares during the period. Costco Wholesale comprises about 2.2% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest position. Arbor Trust Wealth Advisors LLC’s holdings in Costco Wholesale were worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at $4,202,000. Beck Bode LLC grew its position in Costco Wholesale by 1.7% during 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 during the last quarter. Pacer Advisors Inc. increased its position in shares of Costco Wholesale by 7.2% in the 2nd quarter. Pacer Advisors Inc. now owns 68,324 shares of the retailer’s stock valued at $58,075,000 after acquiring an additional 4,577 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Costco Wholesale by 11.3% in the second quarter. Thrivent Financial for Lutherans now owns 64,820 shares of the retailer’s stock valued at $55,096,000 after purchasing an additional 6,587 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Costco Wholesale by 13.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,356 shares of the retailer’s stock worth $1,153,000 after buying an additional 156 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of several analyst reports. TD Cowen raised their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup lifted their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Loop Capital increased their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group increased their price target on Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Nine equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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 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 sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 2.5 %

NASDAQ COST opened at $943.19 on Monday. Costco Wholesale Co. has a fifty-two week low of $675.96 and a fifty-two week high of $1,008.25. The stock has a market cap 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 quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $949.82 and a two-hundred day moving average price of $901.47.

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.