Costco Wholesale Co. (NASDAQ:COST) is Renaissance Investment Group LLC’s 2nd Largest Position

Renaissance Investment Group LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,373 shares of the retailer’s stock after selling 648 shares during the period. Costco Wholesale makes up about 4.5% of Renaissance Investment Group LLC’s portfolio, making the stock its 2nd biggest holding. Renaissance Investment Group LLC’s holdings in Costco Wholesale were worth $21,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fermata Advisors LLC increased its stake in shares of Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after buying an additional 11 shares during the period. Sculati Wealth Management LLC increased its stake in shares of Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after buying an additional 11 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Costco Wholesale by 0.3% in the fourth quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock valued at $3,398,000 after buying an additional 11 shares during the period. Gill Capital Partners LLC increased its stake in shares of Costco Wholesale by 0.9% in the fourth quarter. Gill Capital Partners LLC now owns 1,270 shares of the retailer’s stock valued at $1,164,000 after buying an additional 11 shares during the period. Finally, Perkins Coie Trust Co increased its stake in shares of Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

COST has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price for the company. Loop Capital raised their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, UBS Group raised their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $943.19 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52-week low of $675.96 and a 52-week high of $1,008.25. The firm has a market cap of $418.68 billion, a price-to-earnings ratio of 55.38, a PEG ratio of 5.60 and a beta of 0.84. The business’s fifty day moving average is $949.82 and its 200 day moving average is $901.47.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.