Pinnacle Financial Partners Inc. Purchases 1,056 Shares of Costco Wholesale Co. (NASDAQ:COST)


Share on StockTwits

Pinnacle Financial Partners Inc. raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,338 shares of the retailer’s stock after purchasing an additional 1,056 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Costco Wholesale were worth $8,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Retirement Partners LLC raised its position in Costco Wholesale by 5.6% during the 4th quarter. Global Retirement Partners LLC now owns 7,702 shares of the retailer’s stock valued at $2,902,000 after purchasing an additional 408 shares in the last quarter. OneAscent Financial Services LLC raised its position in Costco Wholesale by 54.3% during the 4th quarter. OneAscent Financial Services LLC now owns 3,552 shares of the retailer’s stock valued at $1,338,000 after purchasing an additional 1,250 shares in the last quarter. Radnor Capital Management LLC raised its position in Costco Wholesale by 23.0% during the 4th quarter. Radnor Capital Management LLC now owns 1,304 shares of the retailer’s stock valued at $491,000 after purchasing an additional 244 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Costco Wholesale by 15.2% in the 4th quarter. Sowell Financial Services LLC now owns 18,408 shares of the retailer’s stock valued at $6,936,000 after acquiring an additional 2,423 shares during the period. Finally, Parkside Investments LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at $208,000. 67.21% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $374.49, for a total value of $374,490.00. Following the completion of the transaction, the chief financial officer now owns 26,101 shares of the company’s stock, valued at approximately $9,774,563.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick J. Callans sold 2,500 shares of the company’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $374.65, for a total value of $936,625.00. Following the completion of the transaction, the vice president now directly owns 59,838 shares of the company’s stock, valued at approximately $22,418,306.70. The disclosure for this sale can be found here. In the last three months, insiders sold 19,376 shares of company stock valued at $7,187,423. Insiders own 0.22% of the company’s stock.

COST has been the topic of a number of analyst reports. MKM Partners lifted their price target on Costco Wholesale from $320.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Robert W. Baird lifted their price target on Costco Wholesale from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Credit Suisse Group lifted their price target on Costco Wholesale from $328.00 to $370.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. BMO Capital Markets lifted their price target on Costco Wholesale from $385.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, December 11th. Finally, Jefferies Financial Group upgraded Costco Wholesale from a “hold” rating to a “buy” rating and lifted their price target for the company from $321.00 to $435.00 in a report on Thursday, October 15th. Twelve analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $386.64.

Shares of COST stock traded up $2.75 on Wednesday, hitting $366.95. The company had a trading volume of 1,948,387 shares, compared to its average volume of 2,635,198. The firm has a market cap of $162.54 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 4.26 and a beta of 0.66. The company has a 50-day moving average price of $373.93 and a 200-day moving average price of $354.36. The company has a quick ratio of 0.53, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. Costco Wholesale Co. has a twelve month low of $271.28 and a twelve month high of $393.15.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Wednesday, December 9th. The retailer reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.24. The business had revenue of $43.21 billion during the quarter, compared to analysts’ expectations of $42.26 billion. Costco Wholesale had a return on equity of 24.50% and a net margin of 2.50%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities research analysts expect that Costco Wholesale Co. will post 9.95 EPS for the current year.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Read More: Understanding Market Liquidity

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.