Rockbridge Investment Management LCC Acquires Shares of 183 Costco Wholesale Co. (NASDAQ:COST)

Rockbridge Investment Management LCC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, Holdings Channel reports. The fund acquired 183 shares of the retailer’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC grew its stake in shares of Costco Wholesale by 4.8% in the second quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock valued at $3,662,043,000 after buying an additional 551,799 shares in the last quarter. Morgan Stanley lifted its holdings in Costco Wholesale by 3.5% during the first quarter. Morgan Stanley now owns 3,366,481 shares of the retailer’s stock valued at $959,885,000 after purchasing an additional 115,213 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Costco Wholesale by 6.7% during the second quarter. Fisher Asset Management LLC now owns 3,282,895 shares of the retailer’s stock valued at $995,407,000 after purchasing an additional 206,856 shares in the last quarter. Legal & General Group Plc raised its position in shares of Costco Wholesale by 2.9% during the first quarter. Legal & General Group Plc now owns 2,942,479 shares of the retailer’s stock valued at $839,131,000 after buying an additional 82,346 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Costco Wholesale by 0.6% during the first quarter. Clearbridge Investments LLC now owns 2,190,524 shares of the retailer’s stock valued at $624,584,000 after buying an additional 13,475 shares during the last quarter. Institutional investors own 68.20% of the company’s stock.

Shares of COST traded up $2.55 during mid-day trading on Wednesday, hitting $346.46. 42,050 shares of the company traded hands, compared to its average volume of 1,836,223. Costco Wholesale Co. has a 1-year low of $271.28 and a 1-year high of $363.67. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $151.84 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 4.33 and a beta of 0.69. The business has a 50 day moving average of $340.13 and a 200 day moving average of $313.89.

In related news, CFO Richard A. Galanti sold 2,730 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $325.07, for a total value of $887,441.10. Following the transaction, the chief financial officer now owns 25,415 shares in the company, valued at approximately $8,261,654.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Roland Michael Vachris sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $300.95, for a total value of $1,203,800.00. In the last quarter, insiders sold 21,889 shares of company stock worth $7,119,719. 0.22% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Royal Bank of Canada lifted their price objective on shares of Costco Wholesale from $381.00 to $400.00 in a research report on Thursday, September 3rd. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $335.00 to $375.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Guggenheim reiterated a “hold” rating on shares of Costco Wholesale in a research report on Monday, June 29th. Finally, Atlantic Securities assumed coverage on shares of Costco Wholesale in a research report on Monday, July 13th. They set an “overweight” rating and a $375.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $350.42.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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