Smith Salley Wealth Management Has $465,000 Holdings in Costco Wholesale Co. (NASDAQ:COST)

Smith Salley Wealth Management cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507 shares of the retailer’s stock after selling 155 shares during the period. Smith Salley Wealth Management’s holdings in Costco Wholesale were worth $465,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale in the 3rd quarter worth approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $55,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Costco Wholesale in the 3rd quarter worth approximately $58,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $58,000. Finally, Christopher J. Hasenberg Inc raised its holdings in shares of Costco Wholesale by 329.4% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after buying an additional 56 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COST has been the subject of a number of recent analyst reports. 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 price target for the company. BMO Capital Markets raised their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a report on Friday, December 13th. UBS Group raised 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. Robert W. Baird raised their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Raymond James raised their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’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 sale, the executive vice president now directly owns 27,400 shares in the company, valued at $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 available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

COST stock opened at $943.19 on Monday. The business’s 50-day moving average price is $949.82 and its two-hundred day moving average price is $901.47. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm 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. Costco Wholesale Co. has a 1-year low of $675.96 and a 1-year 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.