Somerset Trust Co Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Somerset Trust Co reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,963 shares of the retailer’s stock after selling 293 shares during the period. Costco Wholesale accounts for about 2.1% of Somerset Trust Co’s investment portfolio, making the stock its 12th largest position. Somerset Trust Co’s holdings in Costco Wholesale were worth $5,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC increased its stake in Costco Wholesale by 1.7% during the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after acquiring an additional 162,191 shares during the last quarter. FMR LLC grew its holdings in shares of Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the period. International Assets Investment Management LLC increased its position in Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Legal & General Group Plc increased its position in Costco Wholesale by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after purchasing an additional 88,550 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after buying an additional 125,444 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COST shares. BMO Capital Markets increased 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 research report on Friday, December 13th. Wells Fargo & Company raised their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. TD Cowen upped their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

Insider Activity

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $943.19 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale Co. has a 12-month low of $675.96 and a 12-month high of $1,008.25. The business’s fifty day moving average price is $949.82 and its 200 day moving average price is $901.17. The stock has a market capitalization of $418.68 billion, a PE ratio of 55.38, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84.

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.